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Microfinance Loans Credit activities are the main component of FMFB’s operations and as such play an important role in the strategic direction of the Bank in Tajikistan. The Bank currently offers a range of microfinance loan products including a variety of individual and group loans. Group loans are based on the principles of solidarity group lending. The loans are made to each individual member who in turn cross-guarantees the other member’s loans. For agricultural groups, small business groups and women’s groups, the minimum number of members is 3 and the maximum 10. INDIVIDUAL ENTREPRENEUR LOANS The Bank offers individual loans to entrepreneurs who can demonstrate that they have a need for business financing and have a sound repayment capacity. The loan can be used for the purchase of merchandise, raw materials, and fixed assets or for the improvement of the business premises.
INDIVIDUAL AGRICULTURAL LOANS The Bank offers loans to farmers who can demonstrate their need for agricultural financing and have the capacity to repay the loan. Loans are available for the purchase of agricultural inputs including seeds and fertilizer, livestock, farm equipment, etc. and for other capital investments such as irrigation projects. The main parameters of the individual agricultural loan are as follows:
CONSUMER LOAN This product was developed in response to clients who requested a longer repayment term for uses such as education, health, consumer durables, etc. The main parameters of the consumer loans are as follows:
COTTON LOAN The cotton Loan is offered to farmers to help them improve their planting areas and for the purchase of seeds and other related supplies. The main parameters of the cotton loans are as follows:
REVOLVING LINE OF CREDIT The Revolving Line of Credit is designed to provide clients (especially retailers) with on-going access to financing and thereby avoid having to repay a loan completely before accessing further financing. Customers have access to funding up to the limit of the credit line whenever they need it during the life of the facility. This product is currently only being offered to clients with a proven credit history with the Bank. The main parameters of the revolving line of credit are as follows:
WOMEN’S GROUPS and SMALL BUSINESS GROUPS LOANS Women’s group loans are available for either small business purposes or for small-scale agricultural production. Groups are generally composed of 5-10 persons formed to share the risk of borrowing and to support each other. The main parameters are described in the table below:
AGRICULTURAL GROUPS LOANS Agricultural group loans are available to groups of small-scale farmers operating in the same community and agricultural sector. Loans are available for working capital and for fixed asset purchases in horticulture, crop planting, livestock breeding and rearing, and other agricultural activities. Groups are generally composed of 5 - 10 farmers formed to share the risk of borrowing and to support each other. The maximum grace period varies depending on the activity, 8 months for crop, six months for sheep, and 9 months for yak and cattle. The main parameters of these agricultural group loans are as follows:
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All Photos © THE AGA KHAN DEVEOPMENT NETWORK - All rights reserved The First MicroFinanceBank, Tajikistan 105 Rudaki Avenue - Dushanbe, 734 003 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
