DEVELOPMENT FUND EXTENDS LOANS TO BEGINNER ENTREPRENEURS AND LEGAL ENTITIES

30. March 2016.

As of Friday, March 11, the Development Fund of the Republic of Serbia, as one of the major "Year of Entrepreneurship 2016" partners, started receiving requests under the Fund’s Program, the total planned funds of which amount to 7.2 billion dinars. Start-up loans will be granted to beginner entrepreneurs and legal entities.

The envisaged repayment period is up to five years, within which the grace period is up to one year. The Development Fund will also work on improving business through the marketing of loans for working capital (the repayment period of up to five years, within which the grace period is up to 9 months), the current liquidity (the repayment period up to 18 months, within which the grace period is up to three months) and short-term loans (the repayment period from three to 12 months).

Also planned are investments through investment loans (the repayment period from 7 to10 years, within which the grace period is up to one year).

Loans will be approved at the lowest interest rate of 1.5% with a bank guarantee, annually, or at the interest rate of 3 % with the collateral.

Further information on the issue, as well as the list of required documents for applying, are available on www.fondzarazvoj.gov.rs

Source: Development Fund of the Republic of Serbia and Coordination Body