Micro Business Loan

A micro loan is a flexible financing option designed to support the development of your entrepreneurial or professional activities.

Good to Know

Minimum age: 20. The maximum age must not exceed 70 by the final loan repayment date.
Entrepreneurial or professional activity: minimum 6 months
Individuals with existing loans from other banks may also be eligible for a loan.
Individuals with a Taxpayer Identification Number (TIN)
APR: min. 16.72% – max. 41.66% (6–36 months)
For cash loans, payments made by 19:00 during the day are considered to have been made on the same day. Payments made after the specified time are considered to have been made on the next business day, unless otherwise stipulated in the agreement or by the Bank.
The Bank offers the customer the option to conclude an insurance agreement covering the borrower's life in the event of death and loss of working capacity, providing coverage against risks associated with the loan.

Frequently asked questions

How much is the maximum micro business loan amount, and for how long can it be provided?

The maximum loan amount is up to AZN 50,000. The loan term can be up to 36 months. This type of loan is designed to meet business needs and provides the opportunity to make repayments in installments according to your budget.

What are the minimum and maximum age limits for obtaining a micro cash loan?

The minimum age for obtaining the loan is 20. The maximum age must not exceed 70 by the final loan repayment date. In other words, the borrower's age must not exceed 70 throughout the entire loan term. These age limits are mandatory for all applicants.

What documents are required to obtain a micro cash loan?

A Taxpayer Identification Number (TIN) and an identity document are generally required to obtain this loan.

Can individuals with an outstanding loan from another bank also obtain a micro loan?

Yes, individuals with an outstanding loan from another bank may also obtain a loan. One of the main requirements for loan approval is having an existing entrepreneurial activity. Having an outstanding loan with another bank does not prevent you from applying. However, your overall financial situation and repayment capacity will be taken into consideration when assessing the application. Therefore, it is important to provide accurate and complete information.

What is the starting interest rate for a micro cash loan?

Annual interest rates start from 16%. The interest rate may vary depending on the loan amount, term, and the customer's financial indicators. Customers can choose the terms that best suit their needs.

Is a guarantor required for a micro cash loan?

A guarantor is generally not required. However, in certain cases, a guarantor may be required. This may depend on the customer's financial indicators, income level, and loan amount. Information regarding any guarantor requirement will be provided according to the terms offered by the Bank during the application process. Customers can obtain more detailed information when applying.

How can I obtain a micro cash loan online?

To apply for this loan online, customers should log in to the Birbank app. The online application process is simple and fast. Customers can submit an online loan application at any time, making the process more convenient and accessible.

What is the maximum annual percentage rate (APR) for a micro cash loan?

The maximum annual percentage rate (APR) can be up to 41.66%. The APR reflects the overall cost of the loan and takes into account the annual interest rate, commission fees, and other possible costs. Customers should carefully review the applicable interest rates and loan terms before applying and choose an option that matches their repayment capacity.

How can I calculate the monthly payments for a micro cash loan?

You can use the loan calculator available on Birbank's official website or in the app to calculate your monthly payments. Monthly payments are determined based on the loan amount, term, and applicable annual interest rate. After entering the relevant information into the loan calculator, the monthly payment amount is calculated automatically. You can also obtain a repayment schedule showing the exact amount to be paid each month.

How long does it take to receive the result of a micro cash loan application?

The process is faster when applying through the Birbank app, and information about the application decision may be provided immediately or within a few minutes. However, in some cases, additional time may be required to assess the application. The result of the application is communicated through the contact details provided by the customer, such as SMS or email.