The program is implemented according to the order of the President of Kazakhstan, given during the V Forum of Women of Kazakhstan 05.03.2009, the aim of the program is to stimulate economic activity of women entrepreneurs through concessional lending of projects realized by starting and existing women entrepreneurs.
In the framework of the Program STBs finance women engaged in business activities in the form of individual entrepreneur without a legal entity or legal entities headed by women, with the share of women's participation in the equity of not less than 50%, with the number of female employees at least 30% of the total number of workers.
The Program involves the following STBs:
- JSC "Bank CenterCredit"
- JSC "Tsesna Bank"
- JSC "Eurasian Bank"
- JSC «Delta Bank»
- JSC "Temirbank"
- JSC «AsiaCredit Bank»
Key terms of credit for SMEs under the Program:
- targeted use of funds - refinancing of existing loans, investments, working capital;
- annual effective rate for final borrower - not more than 14.0% per annum;
- loan term on loan:
- working capital - up to 36 months
- the acquisition and modernization of fixed assets - up to 60 months;
- Loan currency - tenge;
- financing limit for a single borrower - to 8000 MCI (MCI – monthly calculated index determined by the law of the Republic of Kazakhstan "On republican budget" for the financial year);
- There is no restriction of sectoral focus of project financing;
- SMEs cannot get loans at the expense of programs in different banks and financial institutions at the same time;
- The borrower must begin use of the loan within 2 months from the date of signing the Bank Loan Agreement / Agreement to open a credit line;
- Other conditions are set by the partner Bank.
- Under the Program the following shall be prohibited:
- financing of SMEs with arrears of taxes and other obligatory payments to the budget over 10 MCI at the time of application submission for the loan by SME to the partner Bank.
- loans to refinance existing loans, where the source of funding is the Fund, except for SME projects, funded by the Fund directly.