2020-11-12
Another new program has been approved to overcome economic challenges caused by the coronavirus pandemic and to support entrepreneurs. The program is designed to subsidize commercial bank loans acquired by entrepreneurial entities involved in organizing any type of events and, in light of the present situation, facing hinderances in operations and subsequently decreasing revenues.
Under the program, the state will cover interests accrued on loan principals remaining as of March 1, 2020, and in the course of subsequent 12 months, for event organizing companies with 80% of their loans issued for the acquisition of fixed assets for relevant activities.
Entrepreneurial entities wishing to participate in the program must, under the subsidies scheme, address a commercial bank to verify their compliance with eligibility criteria, to be followed by an application filed with Enterprise Georgia.