Co-financing Conditions and Restrictions

At least 80% of the total value of the project submitted by the potential beneficiary must be directed solely towards the creation/purchase of fixed assets. Additionally, any purchase made with loan funds (excluding services) must be made from an individual or legal entity registered as an entrepreneur in accordance with Georgian law or through imports.

The total amount of the loan to be issued by the commercial bank under the project submitted by the potential beneficiary must be no less than 50,000 GEL and no more than 1,000,000 GEL.

The amount of funding provided by the agency will be no more than 50% of the total loan amount to be issued by the commercial bank under the submitted project, but no more than 500,000 GEL. Furthermore, the agency’s co-financing portion must be used to fully finance the interest rate on the loan issued by the commercial bank for no more than 24 months, within no more than 26 months from the disbursement of the loan or its first tranche.

The agency will deposit the loan interest financing amount in special accounts opened for this purpose at the commercial banks issuing the loan, from which the loan interest will be financed in accordance with the established payment schedule and program conditions. Additionally, once the beneficiary confirms the targeted use of the loan funds and fulfills the objectives specified in the financing agreement, they will receive the remaining portion of the agency's funding, no more than 30% of the total loan amount, which the beneficiary can use at their discretion.

Program Monitoring

To confirm the fulfillment of the program’s objectives, the compliance of assets created with the loan funds with their market value, and the fulfillment of obligations specified in the financing agreement, the beneficiary must submit a report prepared by individuals determined by the agency's board.

The commercial bank must submit a report prepared by individuals designated by the agency's board to confirm the targeted use of the funding and compliance with program conditions.

The agency reserves the right, at any time, at its own discretion, to conduct field and documentary monitoring of beneficiaries.