Agriculture-7th Grant Component
Given credit finances creation of a new enterprise/rehabilitation of an idle enterprise for processing of agricultural goods. The credit implies allocation of a government grant, financing 40% of the design project.
|Interest rate||From 11%. The state program is co-financing 11% of this interest rate.|
|Maximum amount of loan||Up to USD 500,000 (equivalent in GEL)|
|Term of loan||1-84 months|
|Repayment schedule||Equal / unequal monthly installments|
|Maximum allowance period*||24 months|
|Purpose||Fixed / operating assets|
* The Grace Period is determined on the basis of your business`s specificities.
Agriculture - Advantages of the 7th Grant Component:
- Long-term loan for purchase of fixed assets for the agricultural processing field + up to 60 month credit for working capital;
- The possibility of determining a long-term Grace Period gives an opportunity to custom-fit credit repayment schedule with characteristics of your business, namely seasonality;
- Use of the Agriculture-7th Grant Component implies government co-founding with a grant, which is the 40% of the total project cost;
- Besides, The State Program also co-finances interest rate of the borrower by 11%. This means, that if you have a 11% interest rate loan at the VTB Bank and you are honestly fulfilling your obligations, your annual interest rate is reduced by 11% and equals 0%!
- The borrower must have decision of the Agricultural Project management Agency`s Grant Committee on counterpart funding from the agency;
- For receiving a credit, borrower`s financial participation in the project must be no less than 10%.
For the additional information please apply the nearest branch of the Bank.