In order to develop entrepreneurship in the regions of the Kyrgyz Republic, OJSC MCC “Entrepreneurship Development Fund” has developed this product for the development and support of farming, animal husbandry, crop production, fisheries, the manufacture of woolen products, the development of light and food industries, the development of the service sector, the collection of medicinal herbs, dried fruit harvesting, cultivation and collection of nuts, pistachios, almonds, etc., beekeeping, dairy production, animal feed production, natural soap production, berry jam production, natural juice production, etc.
| Target Group |
Private and individual entrepreneurs, legal entities |
| Lending currency |
Kyrgyzstan Soms |
| Requirements for the borrower |
A potential borrower must:
- Be a resident of the Kyrgyz Republic;
- Have a stable operating business or start-up business plan
- The presence of a patent valid at the time of filing an application / IP registration certificate
|
| Purpose |
- Start-up funding;
- For commercial purposes for the development of an existing business that does not contradict the Credit Policy of the Company;
- For refinancing.
|
| Loan Amount |
from 100,000 to 1,000,000 soms |
| Loan interest rate |
16% per annum |
| Lending term provided |
- 100,000 up to 12 months
- 101,000 - 300,000 up to 24 months
- 301,000 – 1,000,000 up to 36 months
|
| Granting a grace period for repayment of the principal amount of the loan (vacation) |
- Up to 500,000 soms - 1 (one) month
- From 500,001 to 1,000,000 soms - 3 (three) months
Note: during the grace period, only interest on the loan is paid (by the decision of the borrower) |
| Loan repayment terms |
On a monthly basis:
- annuity payments;
- differentiated graph;
- individual chart;
- quarterly chart.
|
| Loan early repayment |
Early repayment of the loan is allowed without penalty |
| Collateral |
Type of collateral |
Percentage collateral |
| KGS 100,000 |
Guarantee of one person |
- |
| KGS 101,000 – 300,000 |
Movable property (vehicles) |
At least 130% |
| 301,000 – 1,000,000 KGS |
Real estate (residential and non-residential premises, land plots, etc.) |
At least 70% |
| Movable property (vehicles) |
Less than 30% |
|
If the main collateral is insufficient, additional collateral is required in the form of a guarantee of the Guarantee Fund OJSC of the Kyrgyz Republic |
|
Mandatory compliance with the Company's Collateral Policy and collateral coverage of at least 130% of the loan amount |
| Design review |
The following project reviews are provided:
- Check in CIB;
- Financial analysis;
- Collateral analysis (for real estate, vehicles and equipment);
- Legal analysis
|
| Constraints |
- When lending to the service or production sector, it is allowed to issue a loan in an amount exceeding the amount of equity;
- The recommended installment coverage ratio (the ratio of the balance of net profit after payment of the loan installment to the net profit in the income statement) should be at least 20%
The terms of the credit limit in exceptional cases may be changed (in such cases, the decision is made individually at the discretion of the Credit Committee)
|
| List of required documents |
For "start-up":
- Copies of identity documents (passport) of the Borrower/Pledgor/Guarantor and spouses;
- Certificate from the place of residence of the borrower indicating the composition of the family;
- A copy of the patent / certificate of state registration (re-registration) as an individual engaged in individual entrepreneurial activity without forming a legal entity;
- Certificate of the absence (presence) of debt from the tax authority in the implementation of entrepreneurial activities on the certificate;
- Other documents that are necessary, including for assessing the solvency of the borrower (contracts, agreements, etc.);
- Business plan (developed jointly with our specialist);
- Notarized consent of the spouse of the borrower to receive a loan or a statement of marital status.
For private and individual entrepreneurs:
- Copies of identity documents (passport) of the Borrower/Pledgor/Guarantor and spouses;
- Certificate from the place of residence of the borrower indicating the composition of the family;
- A copy of the patent / certificate of state registration (re-registration) as an individual engaged in individual entrepreneurial activity without forming a legal entity;
- Certificate of the absence (presence) of debt from the tax authority in the implementation of entrepreneurial activities on the certificate;
- Other documents that are necessary, including for assessing the solvency of the borrower (contracts, agreements, etc.);
- Notarized consent of the spouse of the borrower to receive a loan or a statement of marital status.
For a legal entity:
- A copy of the document certifying the authority of the head of the legal entity to dispose of the funds of the legal entity;
- Notarized cards with sample signatures of persons authorized to sign;
- Copies of constituent documents;
- Copies of the certificate of state registration (re-registration) of a legal entity;
- Copy of statistical card;
- Copy of the registration card issued by the tax authority;
- Certificate of the absence (presence) of debt from the tax authority in the implementation of entrepreneurial activities on the certificate;
- Other documents that are necessary, including for assessing the solvency of the borrower (contracts, agreements, etc.);
For collateral, when pledging real estate:
- Originals of title documents for collateral;
- Technical passport (inventory file);
- Certificate from the authorized state body on the absence of a prohibition on the alienation of the property offered as a pledge;
- Certificate from the authorized state bodies about the residents registered at the time of privatization (in the case of a privatized apartment / residential building);
- Notarized consent of the pledgor's spouse to a bond or statement of marital status.
For collateral, in case of pledge of movable property:
- For a vehicle offered as a pledge, a document is a technical passport issued by an authorized state body, issued to the pledger;
- Certificate from the authorized state body on the absence of a prohibition on the alienation of the property offered as a pledge;
- Consent of the pledger's spouse to a bond or statement of marital status without notarization
The consent of the spouse of the Borrower/Pledger, without notarization, is provided on the approved form - the consent of the Company when issuing a loan |
