Preferential loans at 6% per annum are already available for small businesses. The Agrarian Credit Corporation (ACC), a subsidiary of Baiterek NMH JSC, has opened credit lines for funding microfinance organizations (MFOs).

ACC partners are 15 microfinance organizations created with the participation of NCE Atameken and local executive bodies. These financial institutions are represented in all regions of the country, except for the cities of Nur-Sultan and Almaty.

Budget loans can be obtained by graduates of the Bastau Business project or entrepreneurship training courses under other government programs.

To support their business initiatives, 22.5 billion tenge was allocated under the Employment Road Map program. These funds are intended for aspiring entrepreneurs, representatives of small businesses, micro-entrepreneurship, including the development of family and social entrepreneurship. They are issued in the form of preferential loans at a reduced interest rate. The loan term for projects in the livestock sector is up to seven years, in other industries – up to five years.
Deputy Chairman of the Board of ACC Aizhan Kenzhebaeva

The program significantly facilitates the access of start-up entrepreneurs to financing, contributing to the implementation of the instructions of President Kassym-Jomart Tokayev on the development of microfinance.

To apply for a loan, you must have a certificate from the Bastau Business project or other government programs, as well as collateral. A participant who has defended a business plan can apply for a loan from a microfinance organization.

Maximum microloan amount: in rural settlements (regardless of their administrative subordination) and small towns - up to 2.5 thousand MCI (7.2 million tenge); in cities, single-industry towns (except Shymkent, Aktau, Atyrau) - up to 6.5 thousand MCI (18.9 million tenge); in Shymkent, Aktau, Atyrau - up to 8 thousand MCI (23.3 million tenge).

Now entrepreneurs have the opportunity to get a budget loan from microfinance organizations. Of the allocated 22.5 billion tenge, Agricultural Credit Corporation JSC has already accepted applications from microfinance organizations totaling more than 4.7 billion tenge, of which loans have been issued for 2.6 billion tenge.

In implementing this program, the Agrarian Credit Corporation promotes affordable financing for a wide range of business entities. In turn, this is reflected in an increase in the level of well-being of citizens in rural areas: jobs appear, new industries open, the service sector develops, and much more.

Source:  zakon.kz