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CredAgro is an independent and dynamic organization that provides financial services to rural entrepreneurs in Azerbaijan. Our goal is to improve the economic opportunities and living standards of our clients and therefore the entire community where they live. CredAgro envisions an economic environment where financial services meet the needs of clients and are easily obtained at a fair price in all of Azerbaijan.

Program

As a microfinance institution, CredAgro, provides low interest rate loans to rural entrepreneurs as startup capital or further investment capital for established businesses.

CredAgro provides these loan stuctures and services:

• Agricultural loans: This loan is directed towards the purchase and upkeep of the agricultural needs such as; live stock, feed, cropping material, seeds, gardening and etc.
• Trade loans – The loan helps with providing the capital for the processing of traded goods.
• Leasing: CredAgro offers leasing to provide agricultural producers with vehicles and equipment. The lease may run as long as three years.
• Automobile loans: Used only for the purchase of an automobile, this loan can improve the well being of the family as well as greatly enhance the productivity of the business.
• Equipment loans: The purpose of this loan is to provide funds for purchase of computers, furniture, electricity equipment and etc; which will significantly raise the standard of living for the borrower and increase the efficiency of the venture.

All the loans and leasing require that the borrower provided at least 20% of the funding for the specific need or project.

Client Population

The organization is primarily focused on rural lending, a market that has been largely neglected by the formal banking system. CredAgro operates in the Absheron peninsula covering neighboring districts; in the south -Jalilabad, Masalli and Lankaran, in the west -Ismayilli, Zagatala, and Tovuz, and in the north - Khachmaz and Guba. It maintains 6,851 borrowers of which 25% are women.

Impact

In just six years CredAgro had established a loan portfolio of over $23,000,000 USD with an average loan size of $2,895. It has a substantial client base of 6,851 active borrowers and a 99% borrower repayment rate. Many of its clients have received and successfully paid back multiple loans. Such a strong repayment rate and client return is indicative of a significant increase in the clients' business success.

Story

Mr. Maharram Maharramov lives in the northern Khachmaz district of Azerbaijan. After having served in the police force most of his life, he was laid off in 1995 and decided to enter the private sector. Maharram was always interested in farming and decided to build his new career in the farming sector. He has been supported with subsequent loans from CredAgro to build his small farm into a large and well established business. Full Story