The scale of the problem is obvious
The debt of the credit partnerships of East Kazakhstan to SEC "Ertis" is more than 2 billion 800 million tenge for loans under the program "Employment Road Map-2020"
Total amount of funds allocated under the program amounted to more than 13 billion tenge. This was stated by the deputy director of the Chamber of Entrepreneurs of East Kazakhstan region on economic issues Oksana Zhelyakova.
- Oksana, what is the main reason for non-repayment of borrowed funds?
- This lack of marketing of products at reasonable prices, not enough time for the payment of principal debt and interest on the breeding of livestock – less then 18 months, and for the reproduction and sale of cattle 2-3 years are required (...) the scale of the problem is obvious, because in all the 19 cities and districts of EKR there are borrowers who owe money to SEC "Ertis".
- How the problem was solved?
- The Chamber of entrepreneurs is engaged in resolution of these issues. We wrote letters to the Business Ombudsman, the central office of the Chamber of entrepreneurs, Mazhilis deputy Irina Unzhakova.
Thanks to the introduction into effect from 1st of July this year, paragraph 7-1 of Article 34 of the Law "On banks and banking activity", the loan repayment mechanisms was revised - primarily the borrower pays the principal debt, and only after that the interest and fines and penalties, If there are any. The order of repayment changes if the delay was more than 180 consecutive calendar days. By the way, this point of law applies to legal relations that have arisen before its entry into force. Now in most cases, the SEC "Ertis" has remade agreements with borrowers. In addition, according to our information, the Government of Kazakhstan developed a draft Regulation which envisages increasing the term of microcredit on expansion of business or organization of business in the field of animal husbandry to 7 years and the grace period will be 28 months. Now the project is aimed at state and local executive bodies for approval.
- In a number of districts and towns of EKR, program participants of "RMB-20" faced with the fact that their credit unions employee "dead souls" or those who are insolvent. Accordingly, within the framework of joint liability, solvent borrowers, in addition to their own loans, will have to repay the debts of other people. Moreover, there are court decisions initiated by SEC "Ertis", which entered into force. Is this just?
- As for the "dead souls", fraud in lending, law enforcement bodies are dealing with these issues. But we must clearly understand that the program "Employment Road Map-2020" provides for loans through the credit partnerships. And according to the law of Kazakhstan "On banks and banking activity" credit partnerships bear joint liability. Moreover, the final borrowers signed a contract through credit unions with the SEC "Ertis", which also provides for joint liability. When a person takes a loan and signs a contract, you need to read it attentively. And, in general, the program "Employment Road Map-2020" is not bad: a person is given 3 million tenge for the creation or development of the business for 5 years without collateral at 6% per annum, and even a half year grace period lasts.
- In Zyryanovsk there are cases where entrepreneurs, according to them, did not need a loan, took the money, because "Akimats asked them for reporting". Before receiving the loans, they were firmly standing on their feet, and now they have losses due to the courts on claims SEC "Ertis". They movable and immovable property was arrested and the companies ...
Of course, if a credit partnership did not pay the SEC, it will lose in the court, and the debt will still have to be paid. But solvent business, which, as you say, did not need this loan, had a way out before the trial. When they began to send notification about non-payment by the credit partnership, any member could voluntarily leave it by writing an appropriate letter to the head CP, and return its share. CP - is voluntary. And now, when court decisions entered into legal force, it is very hard to somehow fix the situation, sometimes even impossible. Our members began to seek for help of the Chamber of entrepreneurs, when the court hearings have already finished.
Not to let the problems to grow to such a scale, we believe that the coordinators of the program (employment agencies, local executive bodies) should constantly monitor emerging issues for the intended use of the funds, the possibility of product sales immediately after the receipt of the money by a borrower, but not as it occurred today. We are ready to conduct joint work, to teach the future borrowers to do business, to provide advice to all potential entrepreneurs, including participants of the program "RMB-2020".