Turanbank continues collateral-free lending to Azerbaijani businesswomen

Business Materials 19 February 2019 15:40 (UTC +04:00)

Baku, Azerbaijan, Feb. 19

By Matanat Nasibova - Trend:

Azerbaijan's Turanbank, which provides funding for women entrepreneurs, continues to issue collateral-free loans, Head of the Women Entrepreneurs Association Sakina Babayeva told Trend.

Babayeva noted that four women entrepreneurs have received collateral-free loans in the range of 1,000-2,000 manats from the bank.

The conditions for granting loans to women entrepreneurs are quite optimal, she said.

"The women who wish to open their business can receive up to 2,000 manats from the bank without any collateral. Loans in the range of 2,000-5,000 manats are issued upon a letter of guarantee from the Association. Loans in the range of 5,000-10,000 manats are granted with a collateral," Babayeva said.

Babayeva noted that the Association of Women Entrepreneurs of Azerbaijan and Turanbank plan to closely cooperate in the development of women's entrepreneurship.

According to statistics, presently, more than 143,000 women are engaged in business in Azerbaijan.

The Association of Women Entrepreneurs was established in October 2017 with the support of the State Committee on Family, Women and Children.


Follow the author on Twitter: @MatanatNasibova