Eligibility requirements. To participate in the Frontiers Credit Program, Financial Institutions must meet the eligibility requirements outlined below.
- Have all the legal documents in place to conduct lending operations;
- Be registered with credit bureau (if available) and actively use its services;
- Have lending experience of six (6) months. Exceptions can be made on a case-by-case basis;
- The total capital of the company should make up no less than KGS 1 million.
- Have a 3-year business plan with clear description of future development of the company and detailed description of the purpose for the proceeds from Frontiers;
- Have Portfolio at Risk over 30 days (PAR>30), which does not include restructured loans, less than 5%. Portfolio at Risk (PAR>30) including restructured loans should not be higher than 8%;
- Have adequate office and a reliable means of communication (e.g. telephones, FAX and ideally, efficient e-mail capacity);
- Shall be prepared to provide adequate collateral sufficient to ensure completion of liability against the loan;
- Should apply high ethical standards in relation to its clients by using transparent pricing policy, providing financial products with precise and clear conditions, preventing overindebtness and by applying non-agressive and non-abusive collection practices.