Money for Business Ideas
The residents of Mangistau region began to receive microloans on favorable terms
On 10th of June 2016 was created LLP "Microfinance Organization "Atameken ".
The creation of the organization was preceded by the signing of a memorandum in March of this year between NCE RK "Atameken" and the regional akimat. The authorized capital of the MFO is 588 236 000 tenge. Out of these, 288 236 000 – is from the regional budget.
In July, residents of Mangistau region began to receive micro-credits on favorable conditions to open or to expand their business. The amount of the loan, issued by a microfinance organization, is up to 15 million tenge with the payment of the commission of 4% per year for up to 36 months. One advantage is the possibility of obtaining micro-credit for business start-ups, as well as the short term review of applications for microcredit. In practice, the term of consideration of financing for business purpose takes 1 month or more, at LLP "MFO" Atameken" the term of consideration of microcredit takes from 4 to 10 days. A flexible repayment schedule with the provision of micro-credit grace period of repayment of principal for up to 6 months (in the field of crop production - up to 12 months) depending on the specifics of the project and business entrepreneur is available. Micro-credits are not available for consumer purposes, but also for repayment of previous loans, the purchase of residential property and land, the engagement in trade activity.
Currently, 119 applications for micro-credit in the total amount of 860.6 million tenge were submitted, of which 71 projects were considered and 67 applications were approved for funding for a total amount of 582.2 million tenge, and the current date of issue of the amount of 543 610 000 tenge. 149 jobs would be created by 67 approved projects. In terms of sectors we have received funding in the following areas: livestock - 21%, public catering - 10%, finished products - 10%, roadside service - 12%, services of cars and machinery - 6%, other industries - 40%.
Since the beginning of 2017 the terms of financing were amended, now the owners have the opportunity to receive funding for up to 5 years.
LLP "MFO" Atameken" in 2017 will participate in government programs, which provided financing terms for a loan of up to 8 000 MCI, at 6% per annum, for up to 7 years and obtaining assurance.
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