Microcredit Mahalla tadbirkori

Purpose of the microcredit:

— business activities of any type permitted for self-employed persons;
— renewal of fruit trees on household plots.

Microcredit amount:

— up to UZS 30 million — for business activities;
— up to UZS 150 million — for renewal of fruit trees on household plots.

The amount takes into account the borrower’s outstanding microcredits with all credit institutions. The total outstanding microcredits across all banks must not exceed UZS 300 million.

Microcredit term:

— up to 36 months.

Interest rate:

— 25% per annum — for business activities;
— 18% per annum — for renewal of fruit trees on household plots.

Grace period:

— up to 3 months with a declining-balance repayment schedule.

Repayment method:

— annuity — equal payments;
— declining balance — decreasing payments.

Down payment:

— not required.

Microcredit collateral:

For amounts up to UZS 100 million:
— a guarantee from individuals (up to 2 persons) and/or a credit default risk insurance policy.

For amounts over UZS 100 million:
— pledge of property.

Collateral requirements:

— at least 125% of the microcredit amount;
— at least 130% when the microcredit is issued remotely via the Bank’s platform.

The insurance contract and policy are issued for the entire loan term.

Disbursement method:

— online application — transfer to the borrower’s e-wallet in the SQB Mobile app;
— application at a Bank branch — transfer to the borrower’s bank card;
— for fruit tree renewal — non-cash transfer to the supplier’s account under a contract.

How to apply:

— for business activities — online or at a Bank branch
— for fruit tree renewal — at a Bank branch only.

Additional terms:

— the loan is provided for the relevant areas in districts assigned to JSCB “Uzpromstroybank”.
— a repeat microcredit under this product is available after the current debt is fully repaid.