Eurasian Bank Customers Began to Receive Affordable Business Loans under the Simple Things Economics Program
ALMATY, 7 August 2019, Eurasian Bank joined the Simple Things Economics State Program for subsidizing loans to domestic entrepreneurs, having approved the customers of the first 4 projects in the amount of 5 billion tenge. Total lending is planned for the amount of 70 billion tenge.
The State Program with the participation of the largest Kazakhstan banks, for which 600 billion tenge was allocated from the Republican budget, was adopted with the aim of supporting the Kazakhstani business and stimulating the production of goods and services of daily demand and consumption.
The mechanism of the bank interest rate state subsidization allows customers to get a loan at 6% per annum. Lending is carried out for investment purposes and working capital financing for a period of up to 7 years. As part of the Program, entrepreneurs may also obtain a DAMU Fund guarantee.
The Program participants can be customers engaged in processing industry, production of various goods in the agricultural sector, as well as companies providing services in the field of tourism, hotel business, warehouse infrastructure and education.
«It should be noted that since the start of the Program, the list of industries that can qualify for concessional financing has been expanding. And in this we see a big plus for our entrepreneurs», — said Mr. Alan Yeshkeev, Head of Corporate Business Department of Eurasian Bank.
Applications for financing under this Program are accepted in all Eurasian Bank Branches. The terms of the Program can be found at the Bank website.
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