* For loans issued by commercial banks
- Within the framework of the loan, the Agency subsidizes the loan interest rate by the national refinancing rate minus 5% for the full term of the loan;
- Within the framework of the loan, the Agency guarantees no more than 60% of the loan principal amount for a maximum period of 10 years;
- For specific economic activities (please see the annex) the borrower/beneficiary can further benefit from grants component - 15% of the loan/lease agreement amount (no more than 500,000 GEL)
- The minimum loan amount is 50,000 GEL, and the maximum is 10,000,000 GEL;
- At least 50% of the loan should be used for capital expenses, and not more than 50% for working/operational capital.
* Program conditions
- The beneficiary of the program must be an entrepreneur who meets the 3rd or 4th category enterprise criteria (only in its income component) - in accordance with the Law of Georgia on Accounting, Reporting and Auditing, this can be checked through the link: www.reportal.ge
- All beneficiaries are obliged to ensure unimpeded access of persons with disabilities to administrative buildings using ramps and / or similar facilities.
- The aforementioned grant is issued to the beneficiary without further obligation on its expenditure. The grant is issued in full and at once if the beneficiary has fully utilized the loan amount. In the case, that the loan amount is utilized in potions, the grant is issued in two instalments: first installment when the borrower has utilized at least 50% of the loan and the corresponding documents are submitted to the agency, and second instalment after full utilization of the loan happens and the corresponding documents are submitted to the agency. In case of leasing contract, the beneficiary is only eligible to receive the grant after signing the delivery act of the leased equipment.
*The program enters into force from 01.09.2021.
From 01.09.2021, the company (parent) and their subsidiarity for which the total loan volume amount exceeds 10 million Gel, will be prohibited from further participating in the program. Herewith, the restriction only applies to the companies operating in the same economic activity section codes - calcified in according to NACE 2 (For the purposes of the program, a subsidiary firm is considered to be a beneficiary of the program which holds either 50% or more shares in the company)