The number of applications from entrepreneurs through the Electronic Credit Platform is increasing
In order to increase the financial accessibility of entrepreneurs, accelerate investment in areas affected by the pandemic, revive the financial and banking sector, improve the financial situation of entrepreneurs affected by the pandemic, the state is implementing a number of support measures.
One of such measures is the Electronic Credit Platform created by the Ministry of Economy (www.e-edf.gov.az) to make it easier and more transparent for entrepreneurs operating in pandemic-affected areas to obtain state-guaranteed loans.
The provision of new business loans through the Electronic Credit Platform allows entrepreneurs to apply for business loans online, simultaneously review and monitor the status of applications from authorized credit institutions and the Entrepreneurship Development Fund, track their status in real time, and simultaneously apply to three credit institutions.
Entrepreneurs operating in the pandemic-affected areas continue submitting applications through the Electronic Credit Platform.
Thus, as of October 29, 2020, 3059 applications for new business loans have been registered through the Electronic Credit Platform. A decision has already been made on the allocation of loans totaling 107.3 million manat on 392 applications. Other applications are currently being considered and within a specified period of time the entrepreneurs will be informed about the results through the Electronic platform.