According to data from the Ministry of Economy, there are over 20,000 small and medium-sized enterprises in the country, as well as about 496,000 individual entrepreneurs, which accounts for 51.7% of the gross domestic product.
A program aimed at supporting small and medium-sized businesses has been launched in the republic, offering preferential loans at a rate of 6%. These funds can be used for purchasing new equipment, modernizing and expanding production, launching new projects, as well as refinancing existing loans.
As additional measures to simplify access to loans, borrowers can obtain guarantees from the JSC "Guarantee Fund" and choose the most convenient repayment terms for their loans.
"Many aspiring entrepreneurs face difficulties due to a lack of collateral for obtaining a loan. We have provided the opportunity to use the 'Guarantee Fund' to help them," noted Akim Nasirov.
"Now, with the guarantee, entrepreneurs can not only obtain financing but also develop their business," he added.
