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Entrepreneurs received guarantees on mortgages of up to AZN 70 million

16.01.2020,15:37


January 16, Fineko/abc.az. The Mortgage & Credit Guarantee Fund has published a report on activity for 2019.

ABC.AZ informs with reference to the MCGF report that as a result of changes made, according to the Fund's credit rating model, low-risk entrepreneurs can use unsecured business loans with the Fund's guarantee.

Thanks to the improved mechanism,  the Fund’s loan guarantees increased 3-fold up to AZN 52.195 million in 2019 alone (versus 2018 – AZN 17.529 million).

As a whole, MCGF’s guarantees on loans for small and medium-sized businesses by early 2020 totaled AZN 69.724 million.