The Georgian government has updated its state microenterprise support program, increasing the maximum financing available and introducing a new development loan component. Under the changes, the program will now be administered by the newly established Georgia Economic Development Corporation, replacing Enterprise Georgia.
The maximum microloan has been raised from GEL 50,000 to GEL 70,000, while eligible beneficiaries will also be able to apply for a development loan ranging from GEL 70,000 to GEL 150,000. The additional financing will be available only to entrepreneurs who have successfully used a program-backed microloan, have no tax arrears and meet further eligibility criteria set by the corporation.
The government has also revised the interest subsidy mechanism. Under the new rules, the corporation will fully subsidize interest payments on microloans for five years from the first disbursement. The previous fixed maximum interest rate of 8.5% has been abolished, with the corporation set to determine the maximum eligible rate going forward.
Key eligibility criteria remain unchanged. The program is open to businesses with annual revenue of up to GEL 500,000, while the founder's annual income must not exceed GEL 100,000. Beneficiaries must have no outstanding tax debt or be listed in the debtors' registry. The state guarantee will continue to cover up to 80% of the loan principal, and participating banks are prohibited from charging loan issuance, servicing, early repayment or unused tranche fees.
