Halyk Bank accepts applications for preferential loans for young entrepreneurs
Halyk Bank has created a special website Zhas Halyk for accepting applications on the program of unsecured preferential crediting of youth business. Over 40 young entrepreneurs' applications were registered on the first day of work.
The Bank announced the program of unsecured crediting of youth entrepreneurship "Zhas Halyk" in early June within the framework of the Year of Youth and allocates 1 billion tenge for its implementation.
According to the terms, loans of up to 15 million tenge are granted to beginners and existing entrepreneurs aged 21 to 30 years to implement business ideas within the framework of start-up or existing business (for development, replenishment of working capital), for a period of up to 7 years, without collateral, commissions and insurance at the rate of 5% per annum.
"The main condition for receiving a preferential loan is an interesting business idea, which must be competently justified. We have placed on the website a sample business plan. It is important to fill it in as much detail as possible, answering all the questions," Alfiya Zheksenbai, director of the Small and Medium Business Department of Halyk Bank, said.
She also specifies that the bank lends only to real business and will not consider applications for financing of intermediary financial services.
Halyk Bank is the largest creditor of Kazakhstani business and the leader of the main government support programmes.
As of April 1, 2019, the bank served more than 280,000 SME customers, including more than 7,000 borrowers, who received more than 23,000 loans. SME loan portfolio amounted to KZT 478 billion compared to KZT 494 billion at the end of the year, the decrease was caused by seasonal factor. In terms of business financing, the Bank occupies approximately 39% of the Kazakhstani market.
Remind that the Zhas Halyk lending programme was presented by the chairman of the Board of Halyk Bank of Kazakhstan JSC Umut Shayakhmetova on the site of Atameken Fest.
According to data from open sources, in the course of various sociological surveys, more than 50% of young people express their willingness to do business. However, the main barriers to obtaining a loan in Kazakhstan's tertiary banks are associated with high interest rates for SME lending (85% of respondents) and numerous requirements for obtaining a loan - the availability of collateral and start-up capital (82% of respondents).
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