First Agricultural Credit Group was established in Mardakan branch of FINCA Azerbaijan at the beginning of September. Each participant of the Agricultural Credit Group under the name "Hovuslu", which includes four entrepreneurs engaged in poultry farming and agriculture, was given 1000 AZN as a loan, the company said today.
Since April there has been created a new opportunity for agricultural enterpreneurs of Absheron region due to given their numerous requests and needs. Agricultural Credit Group product can be useful to entrepreneurs engaged in farming, animal husbandry, production and sale of dairy and other agricultural products. Entrepreneurs engaged in the above areas of production can get a loan on the basis of a joint surety and without collateral by creating a group of four people.
Today Sumgayit, Mardakan and Khirdalan branches of FINCA Azerbaijan offer this type of credit product to the entrepreneurs who work in the areas near to Baku.
FINCA Azerbaijan is a subsidiary company of FINCA Microfinance Holdings (FMH), which is owned and managed by FINCA International, Inc., a not-for-profit micro-financial services organization operating in 21 countries on five continents, creating a global network of shared expertise.
FMH leverages the funding of socially-responsible investment partners who share FINCA's mission of providing financial services to low-income entrepreneurs so they can create jobs, build assets and improve their standard of living. As one of the leading MFIs in the country, FINCA Azerbaijan serves over 125,000 active clients through 29 branch and 36 sub-branch offices, providing clients with a range of financial products and services including Rural Group Loan, Solidarity Group Loan, Individual Express Loan, Small and Medium Entrepreneur's Loan, and Individual Agricultural Loans, enabling them to improve their livelihoods. FINCA Azerbaijan is committed to the highest commercial principles of performance and sustainability.