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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

Loans for beginning entrepreneurs

February 7, 2013 5:30 pm

Aktobe region is showing great interest in the program "Business Road Map 2020". Since the beginning of 2013 in the Business Support Center (BSC) at the regional branch of the Fund "Damu" there is a large influx of visitors. Most of those who came to the business support center are interested in the product «Damu Start Up» - loans to start a business.

As we know from last years results, under the "Business Road Map 2020" business loans issued from commercial banks can take aspiring entrepreneurs with at least 30 percent of the value of the collateral for projects worth up to 20 million tenge. The remaining 70 percent is the state guarantee.

On January 23 Fund "Damu" signed a separate agreement with "Bank Center Credit" JSC, under which bank loans for starting business on the project «Damu Start Up» will be issued under the following conditions.

Firstly, cash is accepted as a collateral entrepreneur in the form of bank deposits in the amount of not less than 36 percent of the loan amount. Guarantee Fund does not exceed 70% of the loan amount.

Secondly, the loans are issued for first-time entrepreneurs with a certificate of training completion on the project "Business Advisor" or "School of Young Entrepreneurs" and a document confirming the test result by about training, or a document confirming the test result by about training, if independent study on manual "Express course of business" under the "Business Advisor".

Within 5 working days after receiving the documents from the bank, the Fund considers the documents received and make a project to the authorized body to decide on the provision of guarantees.
After receiving the loan aspiring entrepreneurs can get free consulting services on service support of operating business.