Small business loan

Microcredit

 

A microcredit is a loan product designed to help small and micro business owners meet their daily business needs, increase turnover, and take advantage of new growth opportunities. Entrepreneurs can use this loan to finance inventory purchases, expand their services, acquire equipment, cover seasonal expenses, and manage their day-to-day cash flow more efficiently.

 

At ABB, the microcredit is offered in a simpler and more accessible way for entrepreneurs with a Tax Identification Number (TIN). The application process for a micro business credit is carried out online, the loan offer is generated in a short time, and the finalization can be completed through the ABB Biz app. This allows business owners to obtain the necessary financial support without visiting a branch.

 

What is a microcredit?

 

A microcredit is a type of credit provided to entrepreneurs engaged in business activities to meet small and medium-sized financial needs. This type of loan is mainly suitable for micro business owners, individual entrepreneurs, and businesses aiming to increase their daily turnover.

 

A micro business credit enables entrepreneurs to access financial support tailored to their business needs without requiring a large-scale business loan. These funds can be used to cover operating expenses, expand the turnover of goods and services, fulfill new orders, and create additional business opportunities.

 

Who is a microcredit suitable for?

 

A microloan is a suitable option for entrepreneurs operating on the basis of a TIN, small commercial facilities, businesses operating in the service sector, and micro-entrepreneurs engaged in production and sales. If your business needs additional working capital and you want to meet this need quickly, a microloan can be a practical financial solution.

This loan product is especially useful for entrepreneurs who want to expand their business, purchase new goods, meet seasonal demand, or manage short-term expenses. ABB's microbusiness loan is offered online to make the application process more convenient for entrepreneurs.

 

Microcredit terms

 

The terms of the microcredit are determined based on the entrepreneur’s business performance, credit needs, and repayment capacity.

• Maximum amount: up to 100,000 AZN

• Loan term: from 3 to 48 months

• Interest rate: starting from 16% per annum

• Commission fee: 0.5% in total

• Collateral: no collateral or additional obligations required

 

How to apply for an online microcredit?

 

The microcredit application process can be completed online via the ABB Biz app. The entrepreneur submits an application using their TIN and ASAN Imza, sends the loan request, and receives a credit offer from the bank.

 

At the application stage, key business information is reviewed and a suitable credit offer is prepared for the entrepreneur. Once the offer is accepted, the agreement is signed online and the loan amount is transferred to the account. This process saves the entrepreneur’s time and makes it easier to access financing through the micro business loan service.

 

What should be considered when taking a microcredit?

 

Before applying for a microcredit, it is important to choose a loan amount that matches your actual business needs. Taking a larger loan than required may increase your monthly repayment burden. Therefore, the loan amount, term, and interest rate should be planned in line with the business’s cash flow.

 

The entrepreneur should also clearly define the purpose of the loan in advance. If the funds are used to increase working capital, fulfill new orders, or develop revenue-generating areas of the business, microcredit can become a more effective financial tool.

 

The microcredit and micro business loan solutions offered by ABB provide flexible options for entrepreneurs who want to meet their business needs more easily. The online application option, processing via TIN and ASAN Imza, and business-oriented loan conditions ensure more convenient access to financial support.