12.Nov .2020 15:00

Up to 800 Small Hotels Will Be Able to Participate in the Loan Subsidy Program

Up to 800 Small Hotels Will Be Able to Participate in the Loan Subsidy Program
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About 800 more small and family hotels will be involved in the loan subsidy program - the information provided by the agency "Enterprise Georgia" says.
 
According to them, as a result of clarifying the definition of the purpose of the loan, about 800 small and family hotels that did not receive state assistance in the first stage will also be able to participate in the loan interest subsidy program.
 
"Amendments have been made to include microfinance organizations, individual entrepreneurs and companies that have borrowed, will be able to benefit from the loan-guarantee scheme, and also include some technical specifications for small and medium-sized hotels, which will allow another 800 hotels to join the program." Said the Minister of Economy and Sustainable Development, Natia Turnava.
 
For clarification: 12 credit banks operating in Georgia are involved in the credit guarantee scheme, and the scheme operates under the "Enterprise Georgia" agency.
 
"The scheme guarantees up to 70% of the collateral to be submitted to the bank for small and medium-sized enterprises, which will significantly facilitate access to finance for small and medium-sized enterprises," the agency "Enterprise Georgia" says.