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The «Kanat» program

 

 

Characteristics of terms of credit

Terms of credit

Target group

Credit Unions (CU)

Aim of the program

 

Lending to CU for further lending to the members of  CU for the purchase of  new farming equipment/motor transport and / or the attachment / trailing equipment (except passenger car )

 

Currency of the loan:

tenge

Loan amount

from 500 000 (five hundred thousand) tenge, but not more than 40% of the credit line of CU

 

Loan / credit line term

-  purchase of  new farming equipment/motor transport (except passenger car) – up to 84 months;

-  purchase of  attachment / trailing equipment – up to 36 months.

 

Interest rate

9.5% per annum (for final borrowers not more than 14% per annum) (AERR - from 9.5% per annum)

Repayment grace period  of principal debt:

 

no more than 12 months

Collateral

 

Purchase of  new farming equipment/motor transport and / or the attachment / trailing equipment (except passenger car) with the application of a liquidity ratio of 1.0, or any security under the Collateral Policy.

 

 

  

 

 

Letter from the Kazakhstan Association of Appraisers

 

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