The Entrepreneurship Development Fund has begun issuing loans at 6% per annum

As part of the state programme to support entrepreneurs, the open joint-stock company microcredit company ‘Entrepreneurship Development Fund’ has begun issuing preferential loans at 6% per annum to existing small and medium-sized businesses.

Funding is provided to entrepreneurs working in manufacturing, processing, export, IT and innovation, as well as those providing services in tourism, education and healthcare. In addition, the funds can be used to purchase real estate (production buildings, premises and structures) exclusively for the expansion, modernisation or increase in capacity of existing production facilities, without the right to purchase real estate for new projects that do not carry out actual activities, and with the exception of the purchase of land plots. The maximum loan amount is 5 million KGS for a term of 18, 36, 48 or 60 months.

Collateral is required to obtain a loan. For amounts up to 500,000 KGS, movable property may be provided, and for loans from 500,000 to 5 million KGS, immovable property may be provided.

The programme aims to support sustainable business growth, create new jobs and develop priority sectors of the economy. Its implementation was made possible thanks to the support of the President and the Cabinet of Ministers.