Home Business Development CREDIT GUARANTEE MECHANISM

CREDIT GUARANTEE MECHANISM

 

 

The program aims to improve access to finance for small and medium size businesses, facilitate lending and ensure inclusive economic growth.

  • Credit
  • Program directions

 

*In terms of the commercial banks

  • Credit  Guarantee Scheme will be based on Portfolio Guarantees and the loan will be evaluated by the Commercial Bank;
  • A security provided by the Agency for up to 70% of the principal amount for each loan disbursed by commercial bank within the framework of the program. Guarantee shall be issued for each bank participating in the program for up to 15% of the disbursed loan portfolio within this program, at any moment;
  • Minimum loan volume – GEL 50 000, while maximum loan volume – GEL 2 000 000;

*Program conditions

  • Beneficiaries of Credit Guarantee Scheme, and each of co-borrowers should meet following criteria: average turnover during the last 3 years shall not exceed GEL 20 million and total liabilities (at the moment of taking credit) shall not be more than GEL 8 million;
  • The beneficiary shall ensure: starting new production in an industry specified under this Resolution in case of opening a new enterprise within 24 months, while in case of existing company within 12 months.

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