Forte and Damu plan to lend funds to small businesses at reduced interest rates
In a significant move to support the growth of Micro, Small, and Medium Enterprises (MSMEs) in Kazakhstan, ForteBank and the Damu Fund have collaborated to launch a joint affordable credit program named "Örleu." The program offers funding for various business needs, including investments, working capital, and loan refinancing.
The "Örleu" program is designed to provide MSMEs with competitive interest rates, more favorable than standard market rates, to encourage growth. Loan durations can vary, ranging from a few months to several years, depending on the program's objectives and the borrowers' needs.
The maximum loan amount for investment projects under the "Örleu" program is 7 billion tenge, while the maximum for working capital needs is 3.5 billion tenge. Loan funds can be used for investments up to 10 years, working capital up to 3 years, and refinancing existing loans issued from January 1, 2025.
To apply for the "Örleu" program, entrepreneurs can visit the nearest ForteBank branch. It's essential to note that specific requirements for eligibility, such as business size, industry, or location, would likely be outlined in the program's documentation or on the official websites of the involved organizations.
For the most accurate and detailed information, it's recommended to visit ForteBank's official website or contact them directly through their customer service or business banking departments. Similarly, the Damu Fund's website or contact information may also provide necessary details on the collaborative program.
The interest rate for the "Örleu" program has seen a significant decrease, with the final borrower rate now set at 12.6 percent per annum, a decrease from the previous range of 13.43 percent to 35 percent. Notably, the interest rate for the final borrower in the "Örleu" program will not exceed 12.6 percent per annum.
The "Örleu" program is aimed at supporting MSMEs, contributing to the economic growth and development of Kazakhstan. ForteBank has received a license (License No. 1.2.29/197/36) issued by the ARRFR on March 3, 2020, further validating the bank's commitment to supporting MSMEs.
In conclusion, the "Örleu" program offers a valuable opportunity for MSMEs in Kazakhstan, providing competitive interest rates, flexible loan durations, and substantial loan amounts to support business growth. Entrepreneurs are encouraged to visit ForteBank's official website or their nearest branch for more information and to apply for the program.
The "Orleu" program, designed for small-businesses, offers competitive interest rates to MSMEs, enabling a reduction in financing costs for their various business needs, such as investments and working capital. This program, backed by ForteBank and Damu Fund, caters to Kazakhstan's economic growth by providing substantial loan amounts, with a maximum investment project limit of 7 billion tenge and working capital limit of 3.5 billion tenge.
