The Entrepreneurship Development Fund has lowered its lending rate to 6% per annum

The Entrepreneurship Development Fund has begun issuing preferential loans to existing small and medium-sized businesses at 6% per annum. This was announced by the deputy head of the fund, Adilet Kamchybekov, on Birinchi Radio.

According to him, the financing is provided as part of a state program to support entrepreneurship and is targeted at companies that are already operating. Preferential loans are available to entrepreneurs working in the fields of manufacturing, processing, export, IT, and innovation, as well as in the tourism, education, and healthcare sectors.

In addition, borrowed funds may be used to purchase real estate, including commercial premises, but exclusively for the purpose of expanding, modernizing, or increasing the production capacity of an existing business.

The amount of financing varies depending on the amount and term of the loan. Thus, loans from 300,000 to 1 million KGS are provided for a term of up to 36 months, and loans from 1 million to 5 million KGS — for up to 60 months.

The condition for obtaining a loan is the provision of collateral. For loans of up to 500,000 KGS, movable property is accepted as collateral, while for loans of up to 5 million KGS, real estate is required.

As the deputy head of the Fund noted on the radio, the program is aimed at supporting the sustainable growth of small and medium-sized businesses, creating new jobs, and developing priority sectors of the country's economy.