On what basis the loan is issued?

“Credo” issues loans to micro, small and average entrepreneurs for expansion and development of their business. Therefore, there is not need to present salary certificate or any other similar documentation. Thus you should own any kind of business (except for the activity prohibited by the legislation) and have not less than 3-6 months experience in the existing business so that your activity could be better analyzed and the situation developed after issuance of the loan better predicted
 

What interest rate do you have?

“Credo” issues loans to micro, small and average entrepreneurs for expansion and development of their business. Therefore, there is not need to present salary certificate or any other similar documentation. Thus you should own any kind of business (except for the activity prohibited by the legislation) and have not less than 3-6 months experience in the existing business so that your activity could be better analyzed and the situation developed after issuance of the loan better predicted 

It is necessary to emphasize that the interest rate is stated individually for absolutely all borrowers. The following components define the interest rate: work experience, riskiness of the business, credit history, type of the business, loan parameters, etc… Therefore, two various loans of one and the same capacity may be issued for different interest rates

   

Why the loan is approved in USD but issued in GEL?

Reasoning from the regulation of the National Bank microfinance organizations are authorized to issue loans only in national currency. Therefore, approved loans are issued in GEL according to the exchange rate stated by the National Bank
 

How much time is necessary for loan approval and issuance?

For loan approval a loan officer should make a brief analyze of the activity and calculations as a packet. The packet includes business and social analysis with recommendations. The ready packet will be later considered by the Credit Committee. The Credit Committee is the final resolution maker as well. Approximately 2 days are necessary for the whole cycle, if there are no interference factors from borrower's side