Uzbekistan Business Online Lending Lags Far Behind Retail Credit

Tashkent, Uzbekistan (UzDaily.uz) — The digitalization of business lending in Uzbekistan significantly lags behind consumer credit automation, with only about 5 percent of microloans for small and medium-sized enterprises (SMEs) processed fully online, compared to 80 percent of new retail loans issued through automated systems, according to data from the Central Bank of Uzbekistan's pilot financial inclusion index.

The 16-fold gap in digital issuance between consumer and business lending comes despite a well-established credit infrastructure. Credit bureau databases currently cover 98 percent of the adult population and approximately 68 percent of SMEs.

The Central Bank noted that high credit bureau coverage combined with low online loan adoption demonstrates that corporate financing in the country remains in the early stages of digital transformation.

According to the regulator, combining credit bureau records with real-time turnover data could significantly expand credit access for solvent business entities. Transactional data allows lenders to evaluate an enterprise's current cash flow alongside its historical payment discipline, improving risk assessment for businesses that lack traditional collateral or established credit histories.

To accelerate adoption, the Central Bank identified several development priorities, including expanding credit data coverage, shifting toward cash-flow-based financing models, and deploying embedded finance tools that integrate basic banking accounts, payment acceptance, and credit solutions into unified digital workflows for businesses.