PASHA Bank presents new range of services for business financing (PHOTO)
Baku, Azerbaijan, July 9
PASHA Bank, the leading corporate bank of Azerbaijan, is developing a new set of services for representatives of small and medium-sized enterprises (SMEs) in financing their supplies in the B2B segment, the bank said in a message July 9.
This financing scheme unites all participants in the supply chain of goods and services - buyers and suppliers, giving them the opportunity to get the maximum benefit for their business to maintain the necessary liquidity.
Aleksandr Golovko, director of the bank’s SME Department, said that the main distinguishing feature of the complex of services for financing the supply chain from traditional loan products to the replenishment of working capital is the possibility for an entrepreneur to obtain access to monetary resources in a relatively short time, without providing collateral and at sufficient low interest rates, which differ from the rates for other types of lending by an average of 2-3 percent per annum.
“Our main goal is to meet the needs of our SME clients in the working capital, the liquidity necessary for business, improving financial efficiency of the supply chain in the B2B sector, reducing the financial risks of the business and, of course, easy and high-quality banking services,” he noted.
“Such financing scheme is of interest to entrepreneurs serving large businesses in such sectors of economy as oil and gas, telecommunications, construction, trade and services, the sector of fast-moving consumer goods (FMCG), ICT, etc. Since this complex of services is comprehensively attractive for SME representatives, we expect the portfolio growth in this segment at 100 percent at the end of the year.”
Introduction and active application of financing of the supply chain in servicing clients of SMEs is part of the development strategy of PASHA Bank for 2018-2020.