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The 5th Business Forum of Conference on Interaction and Confidence Building Measures in Asia (CICA), 10-11 of November 2016, Astana, Kazakhstan

Regarding the guarantees for bankers

October 22, 2012 6:25 pm

Often, to entrepreneurs who refer to the bank for a loan receive a verdict: " The lack of collateral". Employees of Almaty city Regional affiliate of Fund “ Damu” have conducted a discussion with bankers on how to help entrepreneurs.

On October 17, Almaty Regional Affiliate of Fund "Damu" had a round table discussion with the staff of the Almaty affiliate of JSC "Halyk Bank of Kazakhstan" concerning the changes and additions made to the "Business Road Map -2020" Program on the provision of guarantees and subsidies to entrepreneurs.

Often, an entrepreneur is experiencing lack of collateral in order to get a bank loan for the development of existing and opening new business. In order to overcome the existing discrepancy between the requirements for the provision of collateral and capabilities of SMEs, the Fund developed a tool which guarantees 50 % of the loan amount to the existing entrepreneurs , and 70% to beginning entrepreneurs . Partial credit guarantees under the program reduces some of the banks’ risk. This tool has also been changed , and now Kazakhstan businesses will be able to obtain guarantees of three types issued by Fund "Damu":

  1. Express guarantees for new entrepreneurs up to 20 million tenge;
  2. Express guarantees for the existing businesses up to 60 million tenge;
  3. Individual guarantees on loans from 60 million tenge to 4.5 billion tenge for the existing businesses.

Term of review of the issuance express warranties by the Fund " Damu" is 5 working days , and for individual guarantees - 15 working days. This approach significantly reduces terms of consideration of entrepreneurs’ applications. In reality, the process is as follows : the entrepreneur applies to the bank. If Bank approved the loan (including guarantees provided by the Fund) , entrepreneur’s documents will be directed to Fund "Damu" . After receiving all the required documents from the bank, Fund "Damu" makes a decision according to the rules stated above. If the Fund made a positive decision on providing a guarantee, then entrepreneurs’ project would be submitted for further consideration of Regional Coordinating Council under the City Administration. Then, the Bank , Fund " Damu" and the entrepreneur will signa contract of guaranteeing.


During the meeting the questions on the mechanism of the implementation of the program and the interaction between the Bank, SME and the Fund " Damu" were actively discussed . Therefore, in order to optimize the timing of consideration of projects, the recommendations were provided to the bank in terms of cooperation with the affiliate managers at the initial stage , when the client first applied to the bank for a financial instrument , and subsequently, when analyzes the financing opportunities and up to the signing of financing agreements.

The list of leasing companies was provided to participants of roundtable. They are: «BRK-Leasing» JSC, «TechnoLeasing» LLC, «Leasing Group» JSC, «SK Leasing» JSC, «Temirleasing» JSC and «Eurasian Leasing» LLC.

At the end of the meeting , the participants exchanged contacts and expressed their confidence in the increase of number projects aimed at supporting businesses realized through governmental programs .