In order to be eligible and submit a loan application, an institution must comply with the following requisites:

Qualitative requisites:

1. To be a Russian registered MFI
2. To be a Non-banking Organization. This includes, but it is not limited to:
   • Cooperatives
   • Non-banking Deposit Institutions
   • Non-commercial partnerships
   • State and Municipal Business Supporting Funds
3. To demonstrate commitment providing financial services to micro enterprises
   • MFI’s bylaws show commitment to micro enterprise sector
   • Management has strong experience in SME lending
4. To comply with local laws and regulations

Quantitative requisites:

1. To be operative for at least 3 years
2. To have a minimum active average portfolio of US$150,000 during the last year of operations
3. To have a minimum active average number of clients of 100 during the last year of operations

For repeated clients:

1. The loan outstanding amount should not exceed 10% of the loan capital disbursed.
2. The MFI’s credit history should be outstanding.

NOTE: Exceptions to the eligibility criteria may be made only if the applicant can demonstrate to the Loan Committee that the merits of the proposed project outweigh the importance of the eligibility criteria. No exceptions may be made in regard to qualitative criteria 5.