The implementation of this program is aimed at restoring and ensuring economic and social stability, supporting business entities in the conditions of the spread of coronavirus infection.
Business sectors have been identified as priority business sectors for the coverage of the "Financing of Business Entities" Program, taking into account the following factors:
- promoting the preservation of existing and creation of new jobs in the face of an increase in the number of unemployed and the return of migrant workers;
- support of the most cost-effective business areas to form the largest possible contribution to the country's GDP growth;
- support of business areas that have a multiplicative impact on the development of other types of economic activity;
- support of export-oriented enterprises;
- the need to improve the level of food security of the country;
- provision of the population and the health care system with protective equipment and the most popular medical products of domestic production.
Within the framework of the Program "Financing of business entities", preferential credit facilities will be provided in such areas as:
- tourism;
- light industry;
- pharmaceutical industry;
- cargo transportation;
- manufacturing and processing enterprises, including enterprises of the agro-industrial complex;
- manufacturing industry, with the exception of the mining industry.
In order to introduce digitalization of tax administration, preferential loans will be provided to small and medium-sized businesses using components of digitalization of tax procedures (electronic invoices, software cash registers, labeling of goods) without restrictions by industry, primarily in the service sector and retail trade.
In addition, it provides for the refinancing of loans for industrial, manufacturing and processing enterprises and support for small businesses, which are financed on a non-collateral basis.
Commercial banks and microfinance organizations lend to small businesses on an unsecured basis without restrictions by industry, with the exception of consumer loans.
The following types of credit products are provided within the framework of the "Financing of Business Entities" Program:
1. Acquisition, renewal, expansion and modernization of fixed assets (for fixed assets).
Areas of lending:
- tourism, while lending in the tourism sector does not apply [RT1] to the restaurant business, with the exception of catering outlets at tourist facilities (boarding houses, rest homes, etc.)
- light industry
- pharmaceutical industry
- cargo transportation
- manufacturing and processing enterprises, including agro-industry
- manufacturing industry, with the exception of the mining industry.
Loan terms:
- amount – up to 30 million soms
- term – up to 60 months
- interest rate – 6 %
- grace period for the principal amount – up to 18 months
- refinancing – no more than 50% of the loan amount.
2. Purchase of raw materials, components, spare parts (for working capital).
Areas of lending:
- tourism, while lending in the tourism sector does not apply to the restaurant business, with the exception of catering outlets at tourist facilities (boarding houses, rest homes, etc.);
- light industry
- pharmaceutical industry
- cargo transportation
- manufacturing and processing enterprises, including agro-industry
- manufacturing industry, with the exception of the mining industry.
Loan terms:
- amount – up to 20 million soms
- term – up to 36 months
- interest rate – 10 %
- grace period for the principal amount – up to 12 months
- refinancing – no more than 50% of the loan amount.
3. Acquisition, renewal, expansion and modernization of fixed assets (fixed assets), purchase of goods, raw materials, components, spare parts (working capital) by small and medium-sized businesses using components of digitalization of tax procedures.
Areas of lending:
- no restrictions by industry.
Loan terms:
- amount – up to 10 million soms
- term – up to 36 months
- interest rate – 4 %
- grace period for the principal amount – up to 12 months
- full exemption from repayment of accrued interest – up to 12 months
- refinancing – no more than 50% of the loan amount.
4. Refinancing of industrial, manufacturing and processing loans, with the exception of the mining industry.
Loan terms:
- amount – up to 20 million soms
- term – up to 36 months
- interest rate – 11 %
- grace period for the principal amount – up to 12 months
5. Microcredit on a non-collateral basis.
Areas of lending:
- without restrictions by industry, except for consumer loans
Loan terms:
- amount – up to 150 thousand soms
- term – up to 12 months
- interest rate – 14 %
- grace period for the principal amount – up to 3 months
Commercial banks and MFOs are allowed to establish a longer grace period at their own expense than the period specified in the Program.
In case of insufficient collateral from potential borrowers, the latter can apply to the open joint stock company "Guarantee Fund" with an application for a guarantee. Guarantees are provided to commercial banks and MFOs that have concluded cooperation agreements with JSC Guarantee Fund.
Link to the resolution https://www.gov.kg/ru/npa/s/2518