Product description

Business loans

Loan purpose

Circulating assets for business development

Loan amount

from 100 000 KGS

% rate

20% per annum (2% sales tax included)* (eff.rate 23.76%)

Loan term

Up to 3 years*

Security

Real property is required (pursuant to the Decision of Loan committee of the OJSC “RSK Bank”, the movable property can be accepted as an additional loan security)

Repayment of loan principal and %%

Equal monthly instalment* / **

Loan management commission fee

1 % of loan amount (12% VAT and 2% sales tax included)*

Loan currency

Kyrgyz soms (KGS)

Penalties

- for natural persons - interest rate in the amount of one nominal interest rate of the overdue amount, based on the number of overdue days

- for legal entities – double interest rate of the overdue amount, based on the number of overdue days

List of the required documents:

According to the standard documents list for legal entities and individual entrepreneurs

Additional terms:

- at early repayment the borrower shall pay 10% of the amount of the lost interest.*

- in case of non-purpose use of loan, the penalty is 5% of the loan amount or the early loan repayment

Target group

Small and medium business, registered and operating on the territory of the Kyrgyz Republic (hereinafter - SME);

loan purpose

Lending to projects aimed at the acquisition, renovation, expansion and modernization of fixed assets and other long-term investments, the development of export and import-substitution in agriculture and processing industry.

The criteria and requirements for SMEs

• gross revenue for the previous year shall be no more than 30 million som.

• the average number of employees more than 300 people;

• the share of the state, public and religious organizations (associations), charities and other funds in the authorized capital of the SMEs should not exceed 5 per cent;

• share in the authorized capital of SMEs owned by one or several legal persons who are not subjects of SMEs, should not exceed 20%;

• It should not be an insider or an affiliate of the Bank.

Requirements for projects of SMEs

The maximum loan size is 180,000,000 (one hundred and eighty million) catfish.
It requires mandatory co-financing amounting to at least 20% of the total project SMEs.
 
As a co-financing can be a loan from the Bank's own funds according to the current credit products or own contribution to SMEs in the form of:
cash and non-cash;
Financial resources invested in capital expenditure of the project;
assets in the form of production of fixed assets used in the project.

currency of credit

- Kyrgyz Com

Interest rate

- Ten (10) per cent per annum, excluding taxes (eff. rate 10.87%)

Fee for cashing

- 0% of the loan amount

Restrictions on lending

It is forbidden to lend to the following activities:
Production of tobacco and tobacco products,
production of alcoholic beverages,
manufacture of weapons and ammunition,
manufacture of narcotic drugs and psychotropic substances (with the exception of preparations for medical purposes)
production of other goods withdrawn from civil circulation or limited in the civil circulation,
gambling,
forced and child labor;
Other prohibited activities by the legislation of the Kyrgyz Republic.