A sub-component for non-standard apple purchasing enterprises

Credit for working capital to nonstandard apple purchasing enterprises is issued only for the purpose of purchasing and processing of nonstandard apples. However, the credit amount for apple processing should not exceed 0.09 GEL per one kilogram of apples purchased. The credit can be received only by the companies registered at coordination headquarters set up for the smooth implementation of the measures promoting the sale of apple harvest. 

On the basis of relevant Decree of the Government of Georgia (if such exists), credits to nonstandard apple purchasing enterprises are allowed from September 1 until November 20 (inclusive) of each calendar year.

The amount of credit issued to one beneficiary within the frameworks of the subcomponent shall be estimated from 500,000 GEL to 5,000,000 GEL (inclusive), and term of co-financing for Agency is set at 9 months.

The Agency will co-finance the interest rate of the credit taken only for purchase and processing of nonstandard apples. The Agency shall not co-finance the interest rate for a part of the credit, that beneficiary will not be able or will not use for purchase and/or process of nonstandard apples.

Until December 20 of every year, the beneficiary is obliged, to submit an audit report to the financial institution (for the loans approved including 500 000 GEL, the entities existed in the registry of the “accounting, reporting and audit supervision service” of the state sub-departmental institution included in the Ministry of Finance of Georgia, which have I, II,  III or IV category; B) For the loans approved from 500 001 GEL, the entities existed in the registry of the “accounting, reporting and audit supervision service” of the state sub-departmental institution included in the Ministry of Finance of Georgia, which have I, II,  III category;  C) LEPL “Levan Samkharauli National Forensics Bureau”) , about volumes and amounts paid for purchase of non-standard apples on the season of the current year. Based on this information will be concluded a tripartite comparison act between the agency, the beneficiary and the lending bank regarding the utilization of the loan by the beneficiary in accordance with the purpose of the loan, in which is considered the amount spent for purchase of apples and added 0.09 GEL for per kilogram of apple. 

The interest rate of credit may be fixed or floating:

a) In case of fixed interest rate, the following interest rates should be set by the financial institution: 

b) In case of floating (variable) interest rate, the following interest rates should be set by the financial institution

The interest rate of the credit will be co-financed by the Agency in the annual 11% of the principal amount of the credit that shall be paid by the Agency in accordance with the credit repayment schedule, in parallel to repayment of the credit by the borrower (if any).

The loan will be repaid by annuity or nonstandard schedule. Grace period for the beneficiary to pay both principal amount of the credit and its interest rate shall be set by the financial institution at least until January 15 of the following year. After January 15 of the following year, the grace period for repayment of principal amount, as well as interest rate shall be determined by the lending financial institution.

Potential beneficiary is not obliged is not obliged to be registered at the registry maintained with the frameworks of “Farms / Farmers Registration Project”.