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|At Amrahbank we are always committed to helping small enterprises and private entrepreneurs succeed, because today’s small business is tomorrow’s large successful organisation. We would like to be your key partner in your journey of success from a small business to a large one.|
The requirements of a start-up business are quite different from the established one and our approach in dealing with such clients is therefore tailored to those needs.
In general, we accept loan applications from entrepreneurs operating in any of the sectors - manufacturing, service, trade, etc. Although majority of entrepreneurs apply for loans to finance their short-term working capital gaps or single commercial deals, we also provide financing for long-term projects depending on the soundness of the business case. Our lending terms are flexible which means we can usually offer small businesses different financing options.
Although of particular interest to Amrahbank, entrepreneurship lending is generally a riskier part of our lending portfolio and for this reason Amrahbank applies strict collateral requirements in its lending.
There are no strict limits on amounts that can be lent to entrepreneurs and small businesses. Interest rates applied by Amrahbank for loans to private entrepreneurs range from 24 to 36% p.a. depending on the risk profile of each client. Grace periods in loan repayment schedules can also be applied by Amrahbank to certain types of projects (agriculture, seasonal businesses, start-ups and long-term investments).
We understand that due to absence of experience in obtaining loans from banks, many of the small entrepreneurs in the country face difficulties in preparation of loan applications, business plans and other necessary documents required for the application process. Therefore our friendly bank staff is happy to help and guide you all the way from the first time you step into our branch through the approval of your loan application and beyond. Specialist business banking staff will not only advise you on your application form completion and the necessary documentation but also provide valuable business advice and coaching to ensure your business succeeds.
Each financing application is unique, but generally it takes up to 10 days from the first moment of application to release of funds.
Some entrepreneurs choose to apply for financing through the State Fund for Entrepreneurship Support (initiative of the Ministry of Economic Development). Terms, procedures and application processing times for lending through this channel are quite different from the normal Amrahbank application as in this instance the Bank simply acts as the agent and the funds are ultimately lent by the government. For terms and conditions of entrepreneurship lending from the State Fund for Entrepreneurship Support please follow this link: http://www.anfes.gov.az/index.html.