13.Nov .2020 11:15

Government to subsides Event Companies’ loans – Easter Promotions’ expectations

Government to subsides Event Companies’ loans – Easter Promotions’ expectations
views 237
Back

Georgian government announces another news for pandemic-affected businesses. The state adds event companies to the program.

According to Minister of Economy Natia Turnava, event companies will be able to engage in the credit-guarantee scheme. In addition, event companies like small and family hotels, will receive a bank loan subsidy for 12 months.

Mikheil Giorgadze, co-founder of Eastern Promotion told TV-Program Business Course, that it would be much better to announce that initiative earlier.

"Event companies are the field of show business that is one of the most affected by the pandemic, so I welcome the government's initiative and look forward to find out details that will allow us to get involved in this scheme”, Giorgadze declares.

He noted, that the company will end the year with a loss of over 500,000, but current initiative gives them hope to improve financial condition in the next year.