VTB (Azerbaijan) cancels commission on business loans
VTB (Azerbaijan) has improved the terms of lending to legal entities. The Bank has canceled the commission for all loans for small and medium-sized businesses and micro-enterprises. Since the beginning of the year, the number of clients in this segment of VTB in the country has increased by 60%, exceeding 3.8 thousand.
Micro business owners can get a loan of up to 50,000 manats, the maximum loan term is 36 months. At the same time, up to 10,000 manats is available for registration without financial analysis, and up to 7,000 manats - without a guarantor.
Loans for small and medium-sized businesses are provided in the amount of up to 50 million Russian rubles or the equivalent in manats for up to 60 months. In the line for companies, there are also preferential loans through the Republican Entrepreneurship Development Fund at a rate of 5% per annum and a loan period of up to 10 years.
“Financing of SMEs and micro-businesses is a strategic area of work for VTB (Azerbaijan). Today, our clients in this segment are over 3.8 thousand enterprises, the number of which has increased by 60% since the beginning of the year. For small companies, using a system of conveyor lending and automation, we have simplified the process of obtaining a loan as much as possible, which now takes no more than half an hour, instead of one day. At the same time, during a period of high business activity, we decided to increase the availability of loans for all legal entities and canceled the commission when applying for a loan,” said Tural Huseynov, member of the board, director of the corporate business development department at VTB (Azerbaijan).
The new lending conditions without commission are valid until January 31, 2023. Corporate clients of VTB (Azerbaijan) can apply for a loan at bank branches serving legal entities. You can also apply remotely on the bank's website or by calling the contact center at 986.
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