GUARANTEES HELP SME DEVELOPMENT
- Posted by: Admin
- Category: Digest
Guarantees of OJSC “GF”, which serve as the guarantee for the missing part of the collateral provided by entrepreneurs, help them develop business and implement various projects. The advantages of the new financial instrument have already been appreciated by hundreds of Kyrgyz entrepreneurs. The guarantees saved them from the risk of obtaining a smaller loan amount (equal to the value of the collateral), or the required amount, but at high interest rates.
As at 21 December 2018 OJSC “GF” approved 651 guarantees in the amount of KGS 731 million. The amount of loans approved by partner banks under the guarantees of OJSC “GF” amounted to KGS 2.6551 billion.
From the beginning of 2018, 414 guarantees were issued in the amount of KGS 482.9 million. The amount of bank loans under guarantees amounted to KGS 1.679 billion.
It should be noted that among the partners there are 11 commercial banks with numerous branches in all regions of the republic and the Russian-Kyrgyz Development Fund (RKDF).