April 11, 2024

Loans worth KZT 1.3 billion were received by entrepreneurs in Almaty MFO in Q1 2024

A subsidiary of Almaty Finance (part of Almaty SEC group of companies), Almaty MFO allocated over KZT 1.3 billion for development of micro and small businesses from January to March. This is 1.5 times more than allocation of funds in the same period last year.

In just three months, MFO has funded 36 local projects. Purpose of the loan is to purchase equipment, raw materials, working capital financing, and cover other business needs.

At the beginning of April, the largest number of loans were received by entrepreneurs from the field of production and processing – 22% of total volume of loans, on the second place – healthcare (19%), and on the third place – education (19%). This is followed by support for social entrepreneurs (12%), creative economy (10%) and tourism (6%). Financing has been also provided for projects in the field of sports, trade and public services.

Depending on the category, borrowers can get a secured loan for business development at the rate of 2%* and 6%* or unsecured loan – at 12%*. The maximum loan amount is KZT 73,840,000.

"Since its foundation in 2019, MFO has helped to implement over 520 micro and small business projects in Almaty. During this time, total amount of financing exceeded KZT 11.2 billion. Thanks to government support, entrepreneurs not only develop business on favorable terms, but also create new jobs in the city", said Altay Ismagambetov, Chairman of the Management Board of Almaty MFO.

It should be noted that MFO's lending program is implemented within the framework of regional Entrepreneurship Development Program, Almaty Business-2025.

Learn more about Almaty MFO by calling +7 (727) 390 80 42 or on https://mfoalmaty.kz

*The annual effective interest rate is calculated individually and does not exceed 13%