Financial assistance to small entrepreneurships

The President adopted a Resolution "On additional measures to further enhance the activities of the State Fund for Entrepreneurship Support".

According to the Resolution, from July 1, 2022, the State Fund for Entrepreneurship Support provides compensation for a period of up to 3 years to cover part of the interest rate exceeding the base rate, but not exceeding 30 percent of the base rate, loans and leasing allocated to projects of small businesses, the total the cost of which does not exceed 5 billion UZS, the interest rate does not exceed 1.5 times the main rate of the Central Bank.

The Fund guarantees loans to commercial banks as follows:

Loans are provided up to 50% (including 50%) for projects of small businesses, but not more than 2.5 billion UZS;

Until January 1, 2025, loans are allocated to leading small businesses, as well as projects for the development of home-based work, attached to the mahallas to promote the development of small business and family entrepreneurship on the basis of cooperation in remote and difficult-to-reach areas up to 75% (including 75%), but not exceeding 2.5 billion UZS.

The Fund provides compensation and guarantees to small businesses only for loans and leases of banks in the national currency.

Financial assistance is applied to only one project of one entrepreneur, and the entrepreneur is entitled to re-apply to the Fund for financial assistance when the debt on the loan under the contract is fully repaid.