Question 1

What is Freedom Finance Credit?

Accepted Answer

Freedom Finance Credit is a microfinance organization operating in Kazakhstan that specializes in providing collateral-free online micro-loans to individuals. The organization, formally registered as Microfinance Organization FREEDOM FINANCE Credit LLP, offers digital lending services with loan amounts up to 8 million tenge (approximately 1 million tenge for online applications).

The company operates under the regulatory framework of Kazakhstan's microfinance legislation and is supervised by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.

Question 2

When was Freedom Finance Credit founded?

Accepted Answer

Freedom Finance Credit was officially licensed on March 31, 2021, receiving license number 02.21.0062.М from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market. The organization was established to provide accessible microfinance services to Kazakhstani citizens and businesses.

While the specific founding date predates the license issuance, the company began its regulated microfinance operations in 2021. By December 2021, Freedom Finance Credit had already begun issuing bonds on the Astana International Exchange, demonstrating rapid growth and market presence.

Question 3

Where is Freedom Finance Credit headquartered?

Accepted Answer

Freedom Finance Credit is headquartered at 61A Kurmangazy Street, Almaty, Kazakhstan. This location serves as the primary office for the microfinance organization's operations.

Additional operational offices are located at Seifullin Avenue, 502, 6th floor, in Almaty, which serves as the organization's MFO office for client services.

Question 4

Where does Freedom Finance Credit operate?

Accepted Answer

Freedom Finance Credit operates throughout Kazakhstan, providing its microfinance services primarily through digital channels. The organization focuses on urban centers and regions across Kazakhstan where internet connectivity enables online loan applications and servicing.

The company's operations extend across multiple cities in Kazakhstan, with a particular emphasis on Almaty and other major urban areas. Through its online platform and mobile application infrastructure, Freedom Finance Credit reaches customers nationwide without requiring physical branch visits.

Question 5

What services does Freedom Finance Credit offer?

Accepted Answer

Freedom Finance Credit provides a range of microfinance products and services including:

Microloans: Online loans from 50,000 to 1 million tenge for terms ranging from 6 months to 5 years, with a maximum daily interest rate of 0.07% and annual effective rate (GESV) up to 40%.

Digital Lending Platform: Fully online loan application and approval process that can be completed in approximately 15 minutes through the organization's website.

Refinancing Services: Options for borrowers to restructure existing debt obligations.

Life Insurance Services: Optional insurance coverage available to loan recipients.

Business Lending: Loan products available for individual entrepreneurs (IP) and legal entities operating in Kazakhstan, with amounts up to 8 million tenge.

Flexible Repayment Options: Multiple payment methods including bank transfers, online payments, and digital card transfers to the Freepay digital card system.

Question 6

What makes Freedom Finance Credit unique?

Accepted Answer

Freedom Finance Credit distinguishes itself through its fully digital lending model that requires no collateral for loan approval. The organization emphasizes transparency, data protection, and rapid decision-making processes.

Key differentiating features include instant fund disbursement to digital cards, early repayment options without penalties or commissions, and a comprehensive online personal account system for loan management. The organization considers applicants' credit history but does not make it the sole determining factor, allowing individuals with imperfect credit profiles to access financing.

Freedom Finance Credit has also demonstrated financial market sophistication by issuing bonds on the Astana International Exchange in both USD and KZT denominations, with total bond debt reaching approximately 163 million USD. This capital market access enables the organization to scale its lending operations.

Question 7

What type of financial institution is Freedom Finance Credit?

Accepted Answer

Freedom Finance Credit is a Microfinance Organization (MFO) operating under Kazakhstan's microfinance regulatory framework. In Kazakhstan, MFOs are specialized financial institutions licensed to provide microloans and other microfinance services to individuals and small businesses.

The organization operates in accordance with the Law of the Republic of Kazakhstan "On Microfinance Activities" and is regulated by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM). This regulatory status distinguishes it from traditional banks, credit unions, and other deposit-taking institutions, as MFOs in Kazakhstan focus specifically on lending activities rather than deposit services.

Freedom Finance Credit

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About Freedom Finance Credit in Kazakhstan