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Unsecured Loans Facilitated through Collaborative Agreements with DFC, Three Banks, USAID, and Serbia’s Ministry of Finance

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The U.S. International Development Finance Corporation (DFC) and “3 Banks” have, in collaboration with the Ministry of Finance of Serbia and the U.S. Agency for International Development (USAID) in Serbia, signed a guarantee scheme agreement. This agreement will enable entrepreneurs, small businesses, and farmers to access loans with a repayment period of up to 96 months without a mortgage.

According to the statement from “3 Banks,” the loans will be approved through a straightforward procedure for investments in basic and permanent working capital, ranging from 10,000 to 25,000 euros.

“One of the key obstacles for small entrepreneurs and farmers is the unavailability of long-term financing sources due to the inability to provide mortgages and other collateral. Through this program, we aim to contribute to solving that problem without additional collateral requirements and with repayment terms long enough to ensure that the installment amount does not jeopardize their business,” said Vladimir Vukotić, the CEO of “3 Banks,” regarding the signing of the agreement with DFC.

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As stated, “3 Banks” is a leader in supporting small-scale agriculture and micro-entrepreneurs, financing every other farmer and every third entrepreneur utilizing bank loans in Serbia.

“Our partnership with ‘3 Banks’ dates back to 2001 when the U.S. Agency for International Development (USAID) supported the establishment of ‘Opportunity Savings Bank’ and later its transformation into a bank with the appropriate license – now ‘3 Banks’,” said Tod Endruz, Acting Mission Director of USAID in Serbia.

He added that thanks to this support, the bank has bridged the gap in financing micro and small businesses in Serbia, helping many clients become key drivers of economic growth in their communities.

He stated that this partnership will enable financing for businesses with limited access to credit and contribute to the strengthening of Serbia’s economy.

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“DFC expresses satisfaction with the collaboration with ‘3 Banks’ and USAID Serbia in promoting the financing of micro, small, and medium-sized enterprises in Serbia, providing them with access to working capital. This partnership will help strengthen the Serbian economy and improve living conditions,” said Marjam Košaraj, Acting Vice President of DFC for Small Enterprises and Financial Services.

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