Entrepreneurs in Sabunchu received 1.4 million manat of concessional loans

BAKU/27.12.13/TURAN : National Fund for Entrepreneurship ( NFES) provided entrepreneurs working in the village Bakikhanov, Sabunchu with soft loans .

As reported in the fund , as part of the state support of entrepreneurship in Baku settlements authorized agents of the Fund granted 21 businesses loans totaling 1.4 million manat, which in turn will create over 400 new jobs.

Since the beginning of this year to finance more than 4,480 investment projects there has been allocated more than 275 million manats. During the 2011-2012 and the period expired this year, for business lending in the Baku settlements, including 686 projects, there has been directed funds totaling 148.3 million manat.

NFES was established in 1992 and active lending by the Fund began in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012, the Fund for the financing of investment projects in 2,400 areas allocated 218 million manat. NFES loans in 2013 were projected at 250 million manat, which the Fund has disbursed. - 15D -