$1.75 mln. loan for lending to small businesses... MBC received an unsecured loan of USD 1,750,000 from the international financial institution Incofin Investment Management.
With this amount the company will be able to increase its loan portfolio and offer a wider and more diversified range of services to customers.
The unsecured loan issued to MBC by the international financial institution is a clear sign that international partners trust us. In the future this will have a positive impact on financial stability of micro business, availability of financial resources and economic growth in the country.
Tatia Jajanashvili, CFO of MBC:
"We have been negotiating with Incofin Investment Management for about 2 years, and it was a quite difficult process. It was very important for MBC to maintain stable growth/development in the new regulatory environment where operation on the market became very complicated.
Fortunately, the result is obvious now. The company managed to gain trust of international partners and obtain the unsecured loan.
The purpose of the loan is to increase loan portfolio. As MBC is focused on lending to small and medium sized enterprises and agribusinesses, the loan will be used for this very purpose.
MBC is currently negotiating with 4 other international financial institutions to obtain a loan of GEL 15 million which will also be used to increasing the business portfolio."
It should be noted that Incofin Investment Management has been operating since 2001. The main cornerstone of the international financial institution's lending principles is to promote the development of small and mid-sized enterprises and agribusinesses.
