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TBC Credit resumes loan lending

TBC Credit resumes loan lending

05 June 2009 16:01 (UTC +04:00)

Baku. Elnur Guseynguluev - APA-Economics. Azerbaijan-based TBC Credit non-bank lending institution (former SOA Credit) has launched a new loan product so-called â€œUrgent Moneyâ€.

â€œUrgent moneyâ€ is a loan without collateral and allows borrowers to use it for any purpose.

Under the terms of the loan product, the maximum loan amount is 3 000 manats, term is 12 months.

The loan amount is determined by assessing the clientâ€™s solvency and the total family income.

Established in Azerbaijan in 1999, SOA Credit changed its name to TBC Credit after being acquired by Georgiaâ€™s TBC Bank in May 2007. The company has started lending loans since 2000.
Georgiaâ€™s TBC Bank took a 75% stake in SOA Credit.
As of January 1, TBC Credit posted its loan portfolio at $18.5 million.

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