Credits

«Mahalla prosperity» Microloan

«Mahalla prosperity» is a convenient solution for individuals to start their own business.

24 %

Interest rate

up to 60 months

Credit term

from 3 mln soums to 50 mln soums

Loan amount

Microloan «Mahalla prosperity» is a convenient solution for individuals to start their own business.

The loan is intended to finance independent entrepreneurial activity, including projects aimed at poverty reduction, creation of wide opportunities for profitable business through family entrepreneurship, support of proven clients and bringing them to the level of small and medium business, expansion of business with the participation of active entrepreneurs, radical reform of the activities of socially vulnerable mahallas, formation of the necessary infrastructure for entrepreneurial activity.

Microloans are allocated by the bank to citizens of the Republic of Uzbekistan who have reached 18 years of age, by transferring funds to a plastic card in non-cash form.

Microloan - Mahalla prosperity

Microloan amount	from 3 mln. soums to 50 mln. soums
Maximum term	up to 60 months
Grace period	up to 6 months
Microloan purpose	non-targeted
Issue form	on a soum plastic card, opened at "ASIA ALLIANCE BANK"
Interest rate	On term principal debt - 24% Overdue principal debt - 28,8%
Required documents	- Identity document (passport, ID-card, residence permit, etc.); - Certificate of self-employment; - Document (or certificate) confirming payment of social tax; - An approved favorable recommendation from the relevant Assistant Hakim is required for the disbursement of a microloan; If necessary, other documents may be requested to ensure repayment of the loan. Information on the borrower's average monthly income is obtained by the bank independently in electronic form through special networks. In case it is impossible to determine the Borrower's average monthly income, documents confirming the average monthly income and other sources of income may be requested from the Borrower.
Additional terms	A) Micro-loans are allocated to individuals residing in the territories assigned by the Government of RUz to ASIA ALLIANCE BANK; B) the separate net income of the Borrower/Co-borrower should be not less than 6 times the amount of the BRW; C) 50% of the Borrower's/Co-borrower's average monthly net income must be sufficient to cover the maximum monthly payment on the microloan and the average monthly payment on existing loans/loans. Where there is a Co-Borrower, fifty (50) percent of the Borrower's average monthly net income shall be sufficient to cover at least fifty (50) percent of the maximum monthly loan payment. D) The total debt balance including the balance of all micro-borrowed funds of the Borrower in banks and other banks shall not exceed 100 million soums.
Providing	Insurance policy that satisfies the requirements of the bank for an amount of at least 125% of the loan amount.