Produce in Georgia launches new initiative to support micro and small entrepreneurs

14:45, 16.09.2024

On September 16, the Produce in Georgia Agency introduced a new initiative aimed at supporting micro and small-sized businesses.

Individuals whose annual income does not exceed GEL 500,000 are eligible to apply. The agency encourages residents from mountainous regions and women to join as new participants in this program.

According to the agency, beneficiaries will have the opportunity to receive full or partial financing for loan interest through partner financial institutions.

Additionally, they can access consulting services with co-financing of up to GEL 25,000 and an 80% guarantee during the loan acquisition process. The loan amounts available range from GEL 20,000 to GEL 50,000.

Participants already engaged in the program can benefit from advantageous loans with an 8.5% interest rate, supported by partial financing. This service is accessible throughout Georgia at Produce in Georgia centres.

The newly launched program for micro and small entrepreneurship is expected to foster the development of micro-entrepreneurship, create new jobs, and enhance entrepreneurial potential, the Agency has said.

By - Elene Dobordjginidze

Economics

Produce in Georgia