1 500 Loan
For example, Lakshmi Vilas Bank offers opening 1 500 loan an account with a minimum balance of Rs 10, and the nature and scale of operations should contribute to an increase in savings. With high probability it will lead to a revival of lenders, which in recent years have substantially reduced the scope of activities, unable to compete with the formal sector.
Guarantors, as well as the borrowers are interested in maintaining good relations with microfinance institutions to obtain loans in the future for themselves. Presumably this should be the head of the organization, the chief accountant, cashier and at least one operating officer; – Availability of current debt on loans (outstanding loan portfolio) in the amount of 10 million usd for organizations established by regional bodies of executive power, at least 5 million usd – for organizations established by local governments, as well as consumer cooperatives and associations, non-bank deposit and credit institutions, non-profit partnerships, autonomous non-profit organizations, foundations and business organizations; – The existence of a positive audit (audit) conclusion (for organizations with an active loan portfolio – more than 30 million usd); – Experience of lending to SMEs – at least a year, except for funds to support (support agency) of small and medium-sized businesses and business organizations, one of the founders 1 500 loan of which is a credit institution or a non-bank deposit-credit organization, one of the founders of which is the executive body government or local authority; – The existence of the program (provision of the Rules, order) micro SMEs, as well as the methodology for assessing their creditworthiness; – Lack of arrears in the payment of taxes and duties to the budgets of the budgetary system of the Russian Federation; – Providing justification targeted use and timely repayment of the loan granted in cash and the interest on them; – Ensure the provision of a loan of 100\% 1-211-611-5274 of their commitments in terms of return actually received the loan amount and interest.
What is the source of loan capital?4 times, up to the level of 9\% (against 5.
Repayment: repayment of principal at maturity of the loan agreement, interest payment – monthly. In such cases, currency risk is still present in the operations of microfinance institutions, the sharp fluctuations of the national currency impact on the solvency of small borrowers who make savings in foreign currency, buy goods abroad (“shuttle” business), paying suppliers cash-bound to the exchange rate. “Microfinance organizations to develop and offer borrowers the ways to enforce the obligations that best protect the 1 500 loan interests of the organization.
Among low-income borrowers with higher manifestation of the effect of contagion, when the delay may increase exploding. This problem is solved by the parties on their own during the negotiation and signing of the agreement loan.
For example, in Ireland it eventually led to the fact that the state had to allocate grants credit cooperatives for the redemption of debts the poor from sharks loan. Limiting the interest rates on credit and microfinance markets were tried or are currently used in many countries.
This fact must be taken into consideration when assigning the rating Microfinance organizations on the basis of demographic, ie, must take into account the experience with the addition of the existing stories in the market of microfinance in other forms legal. The higher the ratio, the more financially stable, stable and independent of external creditors of the enterprise. Many expect only on themselves and are cautious in with dealing creditors. 3 of the Law on microfinance and microfinance institutions provides for the implementation of microfinance activities not only microfinance institutions, and other financial intermediaries, including banks, credit cooperatives and pawnshops in view of the fact that the specificity of their regulation determined by other laws.