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Azerbaijan's Mortgage and Credit Guarantee Fund eases issuance of guarantees

Finance Materials 8 October 2019 15:36 (UTC +04:00)
The Azerbaijani Mortgage and Credit Guarantee Fund canceled the collateral requirements for entrepreneur loans when issuing guarantees as part of the loan guarantee mechanism.
Azerbaijan's Mortgage and Credit Guarantee Fund eases issuance of guarantees

Baku, Azerbaijan, Oct. 8

By Eldar Janashvili – Trend:

The Azerbaijani Mortgage and Credit Guarantee Fund canceled the collateral requirements for entrepreneur loans when issuing guarantees as part of the loan guarantee mechanism, Trend reports referring to the website of the Azerbaijani Ministry of Taxes.

According to the results of the analysis, a completely new approach was applied from the point of view of risk management while using the guarantee mechanism, the Fund said.

When issuing the entrepreneur loans within the existing mechanism, collateral requirements will not be made.

More small and medium-sized businesses will be provided with the access to finance via the new mechanism.

As a result of the changes, the opportunities have already been created for entrepreneurs belonging to the low risk category, whose collateral requirements does not correspond to the credit rating model, to take advantage of unsecured entrepreneur loans under the guarantee of the Fund.

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Follow the author on Twitter: @eldarjanashvili

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