Refinance was initially established in 2011 by 11 physical entities whose purpose was to support its members in entrepreneurial activity, improving their economic situation via promoting their private businesses through small loans from the company. In April 2011 Refinance was registered as a credit union, limited liability company (Refinance CU shortly).

Refinance received a license from Central Bank of Azerbaijan for lending to its members in October 2011. After that Refinance started distributing its charter capital amounting about 300-20 000 USD  and AZN to members in Baku and villagies of Baku from October 2011. Nowadays Refinance has more than 500 members out of them 11 are founding members. All members are paying back on time.

Read more: https://www.refinancecu.com/