LENDING

Micro credits are rendered in two directions:

• To start entrepreneurship activity;
• To expansion of activity and fulfill turnover funds.

Micro credits rendered to start entrepreneurship activity:

Soft micro credits are earmarked to start entrepreneurship activity for 18 months. At the same time, interest rate on credit should not exceed 3% APR.

• up to 50 times over minimal wage to entrepreneurs acting without the status of legal entity
• up to 100 times over minimal wage to farm-owners acting with the status of legal entity;
• up to 200 times over minimal wage to farmers;

Microcredit for formation of start capital is provided to microfirms, farmers when an order on microcredit is presented within 6 months from the date of state registration of an entrepreneur.

Micro credits rendered to expansion of activity and fulfill turnover funds:

Small scale entrepreneurship subjects (microfirms, small-scale enterprises, farmers)

• AMOUNT - up to 500 times over minimal wage;
• PERIOD – up to 24 months;
• INTEREST RATE - under interest rate not above 50% of refinancing rate of Central Bank of Uzbekistan.

Micro credits are rendered to following tipes of interpreneurs:

• individual labours;
• farm-owners acting without the status of legal entity;
• family business;
• farm-owners acting with the status of legal entity;
• farmers;
• microfirms;
• small companies.

Citizens desired to lead enterpreneursip activity getting micro cedits should:

• pass a state registration as an entrepreneur and;
• open an account in a comfortable for him branch of Microcreditbank.

The following documents are requested to provide microcredit:

• order on microcredit;
• business plan indicating cash flow analysis;
• documents, confirming disbursement of microcredit (entrepreneurs applying for micro credit for expansion of activity and fulfill turnover funds should also include accounting and financial statements, prepared in accordance with the legislation).

General requirements for business plan provided by the entrepreneurs

• Submitted business plan should have been prepared in the last 60 days at the date of order on microcredit.
• An entrepreneur applied for microcredit is invited to free-of-charge seminars organized by the “Microcreditbank”.

Entrepreneurs must participate in the seminars on issuing microcredit, rendering leasing services and making business plan before obtaining a credit.

Provision one of the followings:

• property pawn;
• pawn of securities of high-liquidity;
• guarantee of third persons complete in favor of the bank;
• other types of currency values completed in the form of pawning, liquidity goods and foreign currencies