Uzbekistan’s Tenge Bank has begun issuing loans to sole proprietors through its mobile app with no branch visits or paper document submissions required.
Loan amounts range from 10 million to 300 million UZS, with terms of 9, 12, 18, 24, or 36 months and interest rates starting at 31.8% per annum. No collateral is required, and there are no extra fees. The bank makes a decision in 20 minutes, and the funds are credited to the entrepreneur’s account at Tenge Bank. The service is available to citizens of Uzbekistan who have been operating as sole proprietors for at least one month.
