761 applications were received in ACC for youth preferential micro-credits

The first month of receiving applications for preferential micro-credits at 2.5% per annum, provided to young people to implement the entrepreneurial initiatives of JSC "Agrarian Credit Corporation"  has ended. According to the ACC, the main areas of application are cattle breeding, services and trade, reports World of NAN.

The program of micro-crediting of youth began accepting applications in March of this year. During this period, 761 applications for concessional microcredits at 2.5% per annum were received from young entrepreneurs aged 21 to 35 years.

"Most of the applications relate to projects in the field of animal husbandry. Thus, 485 citizens applied for a microcredit for cattle breeding, 191 for services, 46 for trade, 22 for light industry, 9 for processing of agricultural products and 8 for crop farming. In total it is planned to issue 5 796 microcredits in 2023", - informed the press-service of the financial organization.

For example, a 32 year old citizen of Karaganda Moldir Taylakova became the first Kazakh woman whose request on the youth microcredit program of "Agrarian Credit Corporation" was approved. The young businesswoman received through the ACC a loan for 5 million tenge.

As noted in the ACC, microcredits are given to young people aged 21 to 35 years old to open or expand their business, provided the registration as an individual entrepreneur with a period not exceeding 5 years. The age of the participants is taken into account at the moment of application to "Agrarian Credit Corporation".

The amount of microcredit can be up to 5 million tenge, and the maximum term of participation - from 5 years (for any purpose), to 7 years (for projects in livestock). Nominal interest rate is no more than 2.5% per annum. For recipients of microcredits a grace period for repayment of principal debt and remuneration, which is not more than one-third of the duration of the microcredit is provided.

The obligatory condition is the availability of collateral. At present, applications for microcredits are accepted in 16 regions and in the cities of Astana, Almaty and Shymkent. In East Kazakhstan region, acceptance of applications will start in the nearest future.

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