Credit "Chorvodori"

      The Chorvodori lending program is a small group or individual loan secured by property and guarantors to individuals and legal entities, which allows one borrower to issue a small loan as part of a group or individual obligation for the livestock sector (beekeeping, poultry farming, animal husbandry, etc.) to take.

Individual and group microcredit

1. Loan currency

Somoni, US dollars and other currencies

2. Form of financing

Cash and non-cash payment

3. Interest on microloans

The first rate is from 15% to 32% per annum in national currency and in foreign currency from 12% to 28% per annum.

The second level is from 12% to 30% per month in national currency and in foreign currency from 12% to 26% per year.

The third rate is from 12% to 30% per month in national currency and in foreign currency from 12% to 26% per year.

4. The amount of the microloan for the group of joint and several liability (for each member of the group)

a) First stage:

— in national currency from 500 to 8000 somoni and in foreign currency in the amount of 100 to 1000 US dollars.

b) the second stage.

— in national currency up to 15,000 somoni and in foreign currency up to 2,000 US dollars.

c) Third and subsequent stages

— in national currency up to 20,000 somoni and in foreign currency up to 2,500 US dollars.

5. Loan amount to individuals

a) First stage:

— in national currency up to 160,000 somoni and in foreign currency up to 20,000 US dollars.

b) the second stage.

– in national currency up to 200,000 somoni and in foreign currency up to 25,000 US dollars.

c) Third and subsequent stages

— in national currency up to 240,000 somoni and in foreign currency up to 30,000 US dollars.

6. Amount of debt to legal entities

— in national currency up to 240,000 somoni and in foreign currency up to 30,000 US dollars.

7. Loan term

from 3 to 36 months:

8. One-time administrative interest for granting a loan

It won’t stop.

9. Loan repayment and interest

Annuity (monthly, with an equal share of interest) Monthly interest payment with principal repayment as agreed with the borrower. In the case of a grace period (no more than 10 months), the principal amount is accrued in accordance with the payment plan, and interest is accrued monthly from the balance of the principal amount.

10. In case of early repayment of the loan

The Borrower shall not be charged a penalty, the Borrower notifies the Company in writing or orally 5 working days before the early repayment of the Loan.

11. Loan security

Credit amount:

— from 500 somoni to 7,500 somoni or equivalent in foreign currency;

1. Guarantee of one or two individuals with income by providing supporting documents. (except for those who own property jointly with the borrower)

 Credit amount:

 — from 7,500 somoni to 15,000 somoni or equivalent in foreign currency;

 2. Guarantee of two individuals with income by providing supporting documents. (except for those who own property jointly with the borrower)

Credit amount:

— in national currency from 15,000 somoni to 240,000 somoni; or equivalent in foreign currency;
3. Movable or immovable property, working capital, equipment, vehicles, deposits of gold items, guarantees, etc.

Note; In case of having a good credit history or gaining the trust of the Organization, clients are offered additional benefits in the field of collateral and guarantors.

12. Deadline for consideration of the application

up to five working days after the registration of the loan application.

 

13. Exceptions

The loan amount may, with the consent of the credit committee, exceed the requirements of parts 4 and 5. Exceptions to part 10: In the absence of a certificate of employment or documents confirming income, it is recommended to draw up a pledge agreement for the farmer’s movable property or other pledged property.

14. Requirements for group members and individual borrowers

The borrower must be a citizen of the Republic of Tajikistan and have permanent registration in the territory of the Republic of Tajikistan. Owner of a regular source of income by submitting supporting documents Age of borrowers from 18 to 60 years old at the end of the loan repayment period for men and women from 18 to 57 years old at the end of the loan repayment period; Predator breeding conditions and so on. (This loan will be issued to tenants of high-rise buildings upon the provision of supporting documents and the conclusion of the loan officer).
The composition of the joint responsibility group must be at least 3 and not more than 12 people. Groups or those that exceed this requirement are divided into two groups.
 Absence of debts or obligations to other credit institutions.

15. Requirements for guarantors

Be a citizen of the Republic of Tajikistan and have permanent registration.
Borrowers are between the ages of 18 and 60 at the time of loan repayment for men and for women between 18 and 57 years of age at the time of loan repayment;
Have a permanent job or a permanent income, this income and their property is equal to the total amount of the loan, for which they are the guarantor.
Has no household in common with the borrower (parents, sons and daughters or spouse)
Absence of debts or obligations to other credit institutions
 

16. Documents required by the borrower:

Passport (copy of passport) and copy of TIN;
Certificate of residence and family composition; (for borrowers mortgaging their homes).
Income certificate Other documents confirming the income of the borrower’s family for the last 6 or 12 months;
Application – an application for a loan.
Documents confirming the ownership of the pledged property, the consent of adult family members.
Consent of the spouse of the borrower (if he is married or has a mortgage).
If the borrower is a legal entity, it submits the balance sheet for the last financial period approved by the tax committee, the charter, work plan and constituent documents.
Certificate or patent of a person engaged in entrepreneurial activity
Certificate of residence (at the request of a loan officer);

17. Warranty documents:

Copy of passport and copy of TIN;
Statement of income for the last 6 months, other documents confirming the solvency of the guarantor;
 

18. Optional:

The loan is granted based on the applicant’s annual income and other income in the amount of 60% of the applicant’s total income.
At the request of the borrower and the proposal of the loan officer, the borrower is granted a grace period.
When pledging gold jewelry or movable and immovable property, a loan is issued to the Borrower after registration of the pledged property in accordance with the requirements and norms of the organization and the current legislation of the Republic of Tajikistan
After a positive decision of the credit committee on a loan agreement, a property pledge agreement or a surety agreement, a loan is issued to the borrower.

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