Azerbaijan’s PASHA Bank has rolled out POS Loan, a credit facility for sole proprietors and legal entities using the bank’s POS terminals.
The collateral-free loan is based on POS sales volume. Loan amounts range from 5,000 to 250,000 manats. No interest is charged during the first 15 days, after which an effective annual rate of 19.06% applies.
To qualify, a client must have used PASHA Bank’s POS services for at least six months, been registered in business for over a year, and completed more than 30 transactions via the bank’s POS terminals in each of the preceding six months. The loan amount is determined solely by the turnover processed through PASHA Bank POS terminals.
Applications can be submitted via online banking or the mobile business app.
