Youth loan at 2.5% for own business

The program is designed for young people between the ages of 21 and 35.

Credit conditions:

• Microcredit is aimed at supporting young entrepreneurs aged 21 to 35 years, whose registration period as an individual entrepreneur at the time of application does not exceed 5 years. Representatives of working youth can also participate in the program.
• Loan amount: up to 5 million tenge
• Interest rate: 2.5% per annum
• Loan term: for livestock development – up to 7 years, for other business lines - up to 5 years

When are applications accepted?

• Acceptance of documents is planned from March 2023. The exact time is published on the official Internet resources of local employment agencies.
• The deadlines for submitting documents for a micro-loan, its consideration, and submission to the commission are regulated by a special order.


For what purpose can I get a loan?

• A micro-loan of 2.5% is provided in order to promote entrepreneurial initiatives of young people.
• There are no restrictions on the industry, that is, priority areas are not fixed.
• Business projects of young entrepreneurs, recognized by the decision of the competition commission as the best, can receive a micro-loan.

Where to submit documents and how will they be considered?

• A person wishing to receive a Micro-loan should contact one of the local branches of JSC Agrarian Credit Corporation after the start of the document flow. The candidate submits the necessary documents (the list of documents is in the next section).
• The Agricultural Credit Corporation verifies the documents within 3 working days from the date of registration of the application. If the documents and the information contained in them do not comply with the terms of microcredit, returns the documents to the owner with an indication of the reason.
• Within 15 working days from the date of registration of the application, the documents and the business project are evaluated.
• Within 3 working days after the evaluation of the Business Project, the result is sent to the local executive body on employment issues for submission to the competition commission.
• Meetings of the competition commission for the selection of Business projects are held at least once a month.
• The best owners of business projects sign a micro-loan agreement and a pledge agreement with the local executive body for employment and the Agrarian Credit Corporation.
• After registration of the pledge agreement by the authorized body, the Agrarian Credit Corporation transfers the amount of the microcredit to the applicant's account within 5 working days.



What documents are required?

The applicant for a micro-loan submits the following documents to the Agrarian Credit Corporation:

• Application form for a micro-loan;
• An identity document;
• The consent of the subject of the credit history to transfer information about him to the credit bureau, as well as to provide a credit report to the recipient of the credit report;
• The consent of the subject to provide and receive information, information about the microcredit provided to state (including law enforcement)/non-governmental bodies, the media and all information about the fulfillment of obligations under the loan agreement;
• Business plan;
• The decision of the borrower to approve the transaction for obtaining a micro-loan, transfer of property as collateral;
• The consent of the pledgors to pledge the property issued in accordance with the internal documents of the agent;
• Certificate from the servicing bank about the availability of an account;
• Certificate of credit indebtedness, including overdue debts from financial institutions (if loans are available);
• A document confirming the salary and other income of the borrower (an extract from the accumulative pension fund);
• Assessment report;
• The pledgor and the collateral documents.

Documents numbered 1, 3 and 4 are filled out in the presence of the creditor.


How are Business projects evaluated?

Business project selection criteria:

• relevance;
• argumentation;
• economic justification;
• Social significance;
• availability of previously completed work, action plan;
• viability of the business project.