Micro-loans for SMEs will be issued in March
In the coming days will open a microfinance institution, and will be approved the terms of mortgage loans
"The project will start this week. Now we are signing documents with our fiscal agent. Micro-finance organization in Mangistau region is also at the phase of opening. We plan to start funding in March. We plan to operate the program for 6 years – the investor gives us money for 3 years with subsequent prolongation for another 3 years", - said the Director of the Department of employment of the National chamber of entrepreneurs of Kazakhstan "Atameken" Zhenisbek Dulatov.
According to him, in the next few days will be agreed the basic conditions and requirements for microloans, the list of required documents. "After that, those who wish to obtain micro-credits can apply to a microfinance institution or to the Centers for servicing entrepreneurs, where they will get explanations", added Dulatov.
The representative of NCE also noted that the credit sum for one borrower cannot exceed 15 million tenge, term of financing is 5 years and the maximum interest rate is 7%. "The main goal is not profit from the financing of the project, but to cover the costs of financial institutions. Funding will take place either through the creation of microfinance institutions or through our fiscal agents - the Fund of financial support of agriculture. "Atameken" won’t receive profit", - he stressed.
"Perhaps this will be a one-time fee: the borrower will only repay the principal amount plus the fee, which we plan to take to cover the costs of microfinance institutions or payment of services of financial agents", - said the Director of the Department.
Dulatov also reported that any assets will be accepted as collateral from entrepreneurs. "It could be animals, home, and machinery, and land. Refunds will be made in several ways: according to the schedule we will provide; if it is not possible to pay on schedule, we will consider the possibility of refinancing or prolongation of this loan, or the members of the credit Committee will be responsible for the return of this loan", he said.
"We have 4 pilot projects in Mangistau, Aktobe, Kyzylorda and Almaty oblasts. We are ready to send 300 million tenge. Why did we choose these regions? Because local executive bodies agreed that they will allocate 300 million tenge from the local budget. Therefore, each region has 600 million tenge. If other regions also show a desire to work in a similar way, we are ready to cooperate", - concluded Dulatov.
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