All businesses will be able to Beneffit from Credit-guarantee Scheme at Bank of Georgia
Bank of Georgia continues to support business and launches a new financial affordability program for it. The bank is involved in the Credit-Guarantee Scheme of Produce in Georgia, which aims to promote crediting the economy and ensure inclusive economic growth.
The program supports micro, small and medium-sized businesses and provides them with new funding opportunities. Under the program, small and medium-sized businesses that do not have the ability to meet loan requirements will receive a credit guarantee of up to 90% of the principal amount.
The scheme also offers businesses to restructure existing loans. In the case of a restructured loan, the program provides a 30% loan guarantee.
Under the credit guarantee scheme, the minimum loan amount is 50,000 GEL and the maximum is 5,000,000 GEL. The maximum loan warranty period is 10 years.
"The Bank of Georgia is involved in a credit guarantee scheme to promote economic recovery. The program, initiated by the Ministry of Economy, gives small and medium enterprises a real chance to access financial resources, maintain jobs, create new jobs and develop, which will play an important role in improving the country's economy, ” said at the Bank of Georgia said.
For more information, visit the link: https://bankofgeorgia.ge/ka/about/news/details/5ee714878637e53c8689ce0e