Micro-credit lending program (MFOs) for further microcredit organizations in rural areas, small and mono towns
The program purpose: access provision of credit resources for individuals and legal entities that organize or expand their own businesses in rural areas, in mono- and small towns.
Target group: microcredit (microfinance) organizations.
Purpose: lending to microcredit organizations (MFOs) for further microcredit individuals and legal entities that organize or expand their own businesses in rural areas, in mono- and small towns for the following purposes:
1. The development of animal husbandry, crop production in rural areas;
2. Other businesses in the village / mono- and small cities.
Maximum loan amount:
· per borrower - 350,000,000 (three hundred and fifty million) KZT;
· per one end borrower (an individual) - 3 000 000 (three million) KZT, but not more than 25% of the equity of micro-credit organizations (MFOs) in the last reporting period;
· per one end borrower (legal entities, peasant farms, private entrepreneurs) - no more than 8-thousand-multiple monthly calculation index established for the financial year by the law on the national budget, but not more than 25% of the equity of the MCO (MFOs) for the last reporting period.
The minimum loan amount per borrower: 10 000 000 (ten million) KZT.
For the Borrower - loan, revolving /non-revolving credit line;
for final borrowers - loan.
1) For loans without collateral:
a) for the Borrower - 12% per annum, effective interest rate not more than 13,9% per annum;
b) for final borrowers - in accordance with the internal regulations of the MCO (MFOs), but not more than the maximum amount of annual effective interest rate, approved by the Board of the National Bank of Kazakhstan on December 24, 2012 No. 377.
2) for loans with collateral:
a) for the Borrower - 9.5% per annum, effective interest rate is not more than 10.1% per annum;
b) for final borrowers - in accordance with the internal regulations of the microcredit organizations (MFOs), but not more than the maximum amount of annual effective interest rate established by Resolution of the Board of the National Bank of Kazakhstan on December 24, 2012 No.37;
1) for borrowers with "AAA-A" rating, according to the test procedure and the assignment of credit ratings of microcredit organizations (MFOs) of the Company as of the date of the decision on lending by the authorized body of the Company, the nominal interest rate is reduced by 1% from the remuneration rate established for the Borrower according to the loans with the collateral;
2) For the Borrower – at provision as collateral: guarantees of the second-tier banks (in accordance with the requirements of collateral policy of the Company), the nominal interest rate is reduced by 4% from the remuneration rate set for the Borrower by loans with the security.
The credit line term: no more than 72 (seventy-two) months.
Term Loan / tranche:
· For the Borrower - no more than 72 (seventy-two) months;
· For end borrowers:
- to replenish the working means - not more than 36 (thirty six) months.
- For investment purposes – not more than 60 (sixty) months.
The procedure for loan/tranche issuing under the credit line:
The loan, tranche is issued on the basis of the borrower's application for funding and the registry of potential end-borrowers in the form according to Appendix no. 1 to the Terms and Conditions.
The means of the second and the subsequent tranches are issued to the Borrower upon the request, registry, mentioned in this line as well as documents confirming 100% of the permitted use of the previous tranche, the extraction provision from a special bank account of the Borrower that confirm the transfer of monetary funds to the End borrower or copies of original documents confirming the fact of lending to the end borrowers.
Term of loan /tranche development: not more than 90 (ninety) days of receipt of the loan/tranche.
The frequency of principal debt repayment:
1) monthly / 1 (once) every three months / 1 (one) every six months and 1(one) a year, with the possibility of partial/full prepayment for the lending term;
2) repayment on an individual schedule depending on the schedule of final borrowers.
Frequency of repayment of remuneration: monthly / 1 (one) every three months / 1 (one) every six months and 1 (one) a year, with the possibility of repayment of accrued interest during the term of the loan for the actually used period; repayment on an individual schedule depending on the schedule of final borrowers.
The grace period on principal debt repayment: Not more than 24 (twenty four) months.
Grace period for repayment of fees: no more than 12 (twelve) months.
· according to the collateral policy of the Company;
· the borrowers with "AAA-BB" rating according to the test procedure and the assignment of credit ratings of microcredit organizations (MFOs) can be financed without collateral.
Basic requirements for the borrower:
1.solvency and financial stability;
2.absence of arrears on taxes and other obligatory payments to the budget at the date of submission/review of applications for loans;
3.absence of overdue debts before the second-tier banks and other financial institutions on the last reporting date (the current application month) (except for micro-credit organizations - the Company's borrowers, according to which rehabilitation procedures are carried out);
4.positive credit history (if any credit history) (except for micro-credit organizations - the Company's borrowers, according to which rehabilitation procedures are carried out);
5.the presence of existing automated accounting system of the loan portfolio.
Supplementary basic requirements for borrowers in lending without collateral loan:
1) experience in microcredit organizations (MFOs) not less than 36 (thirty six) months on the market;
2) loan portfolio rate is at least 150 000 000 (one hundred and fifty million) KZT.
Basic requirements for borrowers without experience:
1. provision of 100% liquid collateral (real estate, second-tier banks' guarantees, deposits);
2. the property of final borrowers cannot be represented as collateral;
3. the ratio of equity to the requested loan amount is not less than 1: 3;
4. after the timely repayment of the first loan/tranche, but not earlier than 1 (one) year from the date of the first loan/tranche receipt by the Company; further funding of the Borrower is carried out on a general basis.