Source: Tanjug | Friday, 13.03.2015.| 12:06
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Development Fund of Republic of Serbia announces greater support to small business

The Development Fund of the Republic of Serbia will offer longer loan repayment periods and lower interest rates and provide a greater support to small businesses and startups, Sladjana Backovic, the director of the Fund, said Thursday (12 March 2015).

Presenting this year's program of the Fund to businessmen at the Regional Chamber of Commerce in Novi Sad, Backovic stressed that loans can be granted with a repayment period of up to ten years, which gives clients enough time to start investment activities, turn profits and timely repay the loan.

- Maximum annual interest rate for long-term loans of the Development Fund is 3% and there are no other costs - Backovic underlined and pointed out that one of the most important conditions was that the applicant was not a loss maker.

Stressing that the Fund's focus in 2015 would be on small businesses, that is, microclients and their start-ups, she added that the amount of loans for bigger clients - exporters was limited to RSD 200 million in that regard.

Others can apply for loans of up to RSD 100 million, in line with their credit rating and loan security.

The Development Fund also grants investment loans for the construction of facilities and the procurement of equipment for agricultural production and the agriculture industry, such as cold storage plants, silos and processing machinery.

Backovic noted that all loans were financed exclusively from the resources of the Development Fund of the Republic of Serbia, adding that the plan for 2015 was to approve a total of RSD 6 billion worth of loans, but that amount can be lower or higher depending on clients' interest.

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