Azerbaijan, Baku, July 2 / Trend /
Among 29 branches of FINCA Azerbaijan the loan portfolio of Jalilabad branch has reached its highest level, the company's press release says on Monday.
Over the past year the branch's loan portfolio grew by 13%, since the beginning of 2012 by 3.5% and has become $8 million. Jalilabad branch, which has 6800 customers, is one of the leading microfinance institutions in the south region of the country.
"The branch has won the success and credibility among customers due to active work for the convenience and acceptable conditions for obtaining credit by small and medium entrepreneurs in the region engaged in agriculture and trade," the press release says.
Customers introducing a small number of documents and in a short period of time will be able to get different types of credit products, such as the Rural Loan Product, Solidarity Credit Group Loan, FINCA Express Loan, Small Medium Enterprise Loan and Individual Agriculture Loan.
Since the beginning of 2012 FINCA Azerbaijan has reduced the interests of loans. Depending on the variety of loan interest rate lowered from 3 to 6.6 percent.
FINCA Azerbaijan is a subsidiary company of FINCA Microfinance Holdings (FMH), which is owned and managed by FINCA International, Inc., a not-for-profit micro-financial services organization operating in 21 countries on five continents, creating a global network of shared expertise. FMH leverages the funding of socially-responsible investment partners who share FINCA's mission of providing financial services to low-income entrepreneurs so they can create jobs, build assets and improve their standard of living. As one of the leading MFIs in the country, FINCA Azerbaijan serves over 125,000 active clients through 29 branch and 36 sub-branch offices, providing clients with a range of financial products and services including Rural Group Loan, Solidarity Group Loan, Individual Express Loan, Small and Medium Entrepreneur's Loan, and Individual Agricultural Loans, enabling them to improve their livelihoods. FINCA Azerbaijan is committed to the highest commercial principles of performance and sustainability.