According to the Agency Enterprise Georgia, 46,477,445 GEL is transferred to the beneficiaries from the 70 million budget of Interest Subsidy on Hotel Loans.
As of the Agency, the number of unique beneficiaries of the program is 1,554, so the loan interest was subsidized to 1,555 business entities/hotels.
The fact is that if a business meets the requirements of the program, the interest rate of 2, 3 or 4 different loans can be subsidized. As a result, the volume of loans exceeds the number of unique beneficiaries/hotels.
At the same time, a total of 8,059 applications for loan interest subsidies have been submitted since March. Applications were rejected due to 3 main reasons: the first - the purpose of the loan was not relevant to the program, the second - the applicant was not an individual entrepreneur and the third - the same application was sent multiple times.
