Raiffeisen Bank has extended its range of products and services to include Micro businesses. Starting on September 1st, Raiffeisen Bank offers packages and loans designed specifically for Micro businesses. Many qualified businesses are expected to take advantage of the new services. Their development will positively impact the Albanian economy.
As expected loans are the main products for this sector. Managers at Raiffeisen point out that flexibility and diversity of loans are the strongest advantage for their client. Main Lending products include Overdraft, Investment Loans, Working Capital, MultiPurpose Loans and Commercial Mortgage. Loans up to â‚¬8,000 are unsecured except for guarantees with pledges. Loans of â‚¬8,000 - â‚¬100,000 are secured with Real Estate capital.
Raiffeisen Bank qualifies as Micro all businesses with Revenues up to 1 Million Euro annually. About 95% of all businesses operating in Albania are expected to qualify as Micro. Businesses seeking financing from Raiffeisen Bank must have at least 1 year in business and a valid business license. Companies with higher revenues are already provided for by Raiffeisen Bank.
Many small businesses have had difficulty getting financing from commercial banks. Raiffeisen Bank is one of the major banks to develop a formal program into whatâ€™s been considered until recently as a high-risk sector. Demand for Micro Lending is expected to be strong given the state of the economy and gaps in Micro financing opportunities. The Value Proposition is built upon three competitive advantages: largest network reach in the country, a fast loan processing system and better terms and conditions for Micro clients.
Raiffeisen has established a team of 21 dedicated Micro Account Officers. Dedicated Micro Account Officers will be located in Tirana, Durres, Vlore, Fier, Shkoder, Gjirokaster, Elbasan, Korce, Lushnje, Peshkopi, Sarande, Burrel and Lezhe.
Raiffeisen Bank in Albania is a leader in the credit market with more than 480 million euros loans. Raiffeisen Bank has 98 branches in towns and villages throughout Albania bringing banking services, investment and employment opportunities to areas where there are often no other banks. The policy of Raiffeisen Bank is offering services to all levels and segments of population.