Kapital Bank built E2E Lending Journey for Micro Businesses
Kapital Bank is one of the most active banks introducing game-changing innovations in the Azerbaijani financial industry. The bank has launched a new service for micro businesses, which for the first time in the country will enable individual entrepreneurs to apply for a loan online, without breaking away from work and visiting a bank branch.
To use the service, customers need to go to the “Microcredit” section on the Kapital Bank’s corporate website and fill out an online application. Bank employees will consider the request, provide information on the eligible loan amount, and after completing the processing, deposit the funds to the client's business card or current account. If the customer does not have a business card, it will be delivered to home or office.
Another change concerns micro businesses having a bank account with Kapital Bank. These customers are now able to take out a micro business loan based on their turnover. According to the new analysis model, clients can get a loan without going through the traditional lending process, that is, without visits of bank specialists to their enterprises and places of residence. It should be noted that microcredits are provided to customers who have a bank account with Kapital Bank with no guarantee, guarantor or collateral required.
Kapital Bank provides up to AZN 100 000 micro business loans for a period of 48 months maximum with an annual percentage rate starting at 16%. For details, follow www.kbl.az/mbkpr or contact the bank's accounts on social media.