How much are businesses helped through low-interest loans? - Sefa: Before applying, they must have a correct business plan
The Albanian government and the banking system have signed a partnership for the financing program for small and medium-sized enterprises. This scheme aims to facilitate access to finance for Albanian enterprises. But how much will this initiative help small and medium-sized enterprises?
"Absolutely, it will help them, but there is a big condition if they have the right project and business plan for the business they have. Desire is not enough, the other follow-up work must also be done, which is the business plan and concrete project, along with a mini-feasibility of what you will do. If this is done, this credit line will really help the business, especially the part of start-ups, initial businesses, or small businesses that want to grow within 2-3 years. But on the other hand, if they have not done the business plan and initial project properly, then unfortunately this type of loan can turn into a much greater burden, not least because the interest rate is soft. It is much lower than the market rate," says Ergis Sefa, Economics Expert.
This initiative aims to support enterprises with loans at low interest rates of 2-3%, while the government will be able to cover 30-70% of the financing risk through a sovereign guarantee.
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