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Basisbank Starts Reception of Applications under the State-Funded Cheap Credit Program

Basisbank has launched the reception of applications in frames of the state-funded Cheap Credit program.


The interested persons can address any service center of the bank or make an application through the bank’s website


Reception of applications will be divided into two stages:


At the first stage, the deadline for reception of applications will expire on July 31, 2009. The successful projects will be revealed before August 15, 2009.


The second stage will start on the 1st of September 2009 and end on September 30. The successful projects will be revealed before October 15.


According to the terms of cheap credit, the amount of a credit to be granted to one legal entity or an enterprise should exceed GEL 20 thousand; a maximum loan maturity is 7 years with a two-year grace period. 


Annual rate of using a credit by an entrepreneur is 12%.


Credits are granted to the entrepreneurs involved in agricultural, tourism, handicraft and other spheres, as well as to those entrepreneurs, who want to make business in these spheres.

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