Business loan
For stock, equipment, a refit or a second outlet
- Amount
- ₼1,000–50,000
- Term
- 6–36 months
- Annual rate
- from 22%
- APR
- from 25.7%
Group loans for women in business
Three to seven women working in one village or neighbourhood form a group, and each gets ₼300 to ₼3,000. No pledge and no formal income needed: the members guarantee each other.
- Amount
- ₼300–3,000
- Term
- 6–18 months
- Annual rate
- from 23%
- APR
- 25.5–25.6%
- Fee
- None
- Decision
- 2 working days
Who it is for
- Women sewing, weaving, baking or making dairy at home
- Small traders at markets
- Women borrowing for the first time
- Women who know each other and live nearby
A larger loan in the second cycle
In the first cycle each member gets up to ₼3,000. When the group repays without delays, each member can take up to 50% more in the next. After three cycles a member can move on to an individual business loan.
What it can pay for
- Raw materials
- A sewing machine, a loom, equipment
- Goods to sell
- Livestock, poultry
Work out the payment
₼300₼3,000
6 months18 months
Monthly payment
₼141.11
Annual rate 23% · APR 25.6%Total to repay: ₼1,693.36
Equal payments. An estimate. The rate depends on the sum; the exact terms are in the contract.
Terms
Rate by amount
| ₼300–3,000 | 23% |
|---|
- How you repay
- Equal payments
- Interest-only months
- None
- Pledge and guarantor
- No pledge. The members guarantee each other’s loans: if one is late, the group makes up that month’s payment together. A group that repays on time can borrow more in the next cycle.
- How the decision is made
- A loan officer meets the group once and sees each member’s work. The decision comes within 2 working days. Each month the group gathers the payments at one meeting.
Example. ₼1,500 over 12 months at 23% a year, fee none. Monthly payment ₼141.11, total to repay ₼1,693.36, APR 25.6%.
Documents you need
- Each member’s ID card
- The group’s list and the leader’s phone number
A borrower’s experience
Five of us neighbours formed a group and none of us had to pledge anything. In the second cycle I took 3,000 manat, and now I sew school uniforms to order.
- Loan:
- Group loan for women, ₼2,000, 12 months
- Bought:
- A professional sewing machine and an overlocker
- Result:
- Forty school uniform sets a month, sewn to order
Questions about this loan
Can a man be in the group?
This loan is for women in business. For men there is the business loan from ₼1,000, with a guarantor up to ₼10,000.
What if one member does not pay?
The group makes up that month’s payment and the loan officer talks to the member separately. If the reason is serious (illness, a death in the family), we stretch her schedule on its own.
Do we have to meet every month?
The meeting is short, 20–30 minutes, usually at one member’s home. A member who pays by card can skip it but should stay in touch with the group leader.
Other loans
All loans
Farm loan
You repay the loan in the months you sell the harvest
- Amount
- ₼1,000–30,000
- Term
- 6–24 months
- Annual rate
- from 21%
- APR
- from 24.1%
Consumer loan
Online up to ₼5,000, signed with SİMA
- Amount
- ₼500–15,000
- Term
- 6–36 months
- Annual rate
- from 25%
- APR
- from 30%