June 10, 2021

Collateral free microcreodit for business

By the decision of the Maslikhat of Almaty city, on the 23rd of April, 2021, there were approved amendments to the regional program for the development of entrepreneurship "Almaty Business - 2025". The key change in this program is the introduction of a program for the provision of collateral free microcredits for existing entrepreneurs.

The provision of collateral free credits is carried out by the microfinance organization "Almaty", that is part of the group of companies of JSC "SEC" Almaty".

Collateral free microcredits are available for operating small and medium-sized businesses with an annual effective interest rate of 12%, for a period of up to 24 months and a maximum amount of 6,000,000 tenge (up to 1,000,000 tenge - if there is no credit history). The key condition is registration and implementation of entrepreneurial activity in Almaty for a period of at least 6 months.

This product is one of the tools to support existing entrepreneurs conducting transparent activities, since rates for Collateral free lending in second-tier banks start at 17% and average 22-23%.

Required documents:

- Identity card of the authorized person;

- IE registration certificate;

- Income tax declorations;

- Certificates from servicing banks on the availability of bank accounts and monthly turnover, for the last 12 months, with statements attached.

Government support in the form of affordable financing for small medium-sized businesses in Almaty is the main task of the MFO "Almaty" and "Almaty Finance", which also provide preferential collateral credots at rates of 2% and 6% per annum.

Additional information for the media: Аlmas Kurmangaliyev, +7 702 385 44 44, a.kurmangaliyev@mfoalmaty.kz