Loan conditions
The issuance of preferential loans is an effective way to stabilize prices for socially important food products. Such loans help business entities to sell goods from the NWPT list at below market prices.
The business entity for issuing a loan is determined by the Commission for Ensuring the Implementation of Price Stabilization Mechanisms for Socially Significant Food Products in accordance with the following requirements (criteria) for business entities:
the presence in the ownership or on a leasehold basis (with a validity period for the period of the loan) of an existing retail facility (s) or an agreement (agreements) for the supply of products with an operating retail trade entity (with a validity period for the period of the loan);
possession or lease of a storage infrastructure (storage facilities or other premises) with special equipment (valid for the period of the loan).
Loan terms
Preferential lending to stabilize the prices of NWPT with an interest rate of 0.01% is given for a period of not more than 12 months. The amount of the loan is determined on the basis of a decision of the Commission for Ensuring the Implementation of Price Stabilization Mechanisms for Socially Significant Food Products.
After the Commission determines the business entity, the specialized organization provides a loan to the business entity.
A business entity provides security for the fulfillment of obligations to repay a loan to a specialized organization. Security for the fulfillment of obligations is provided in the form of: a pledge, a bank guarantee, an insurance contract, a guarantee/guarantee of third parties. Ensuring the fulfillment of obligations is executed in writing, provided for by law.
The conditions for granting a loan are established by a loan agreement concluded between a specialized organization and a business entity.
The loan is not provided to refinance overdue debt.
The loan is provided only in national currency.
Required documents
For consideration by the Commission of the issue of granting a loan, a business entity enters the following information:
1) an application indicating the amount of the loan, as well as indicating the necessary calculations for costs, the proposed list of food products, the timing of the loan repayment;
2) Certificate of state registration of a legal entity (notification of the commencement of activities as an individual entrepreneur, title documents for a land plot for a peasant or farm enterprise);
3) Documents of a legal entity (Charter, memorandum of association, etc.);
4) Authorizing documents (power of attorney, order) of the representative of the Borrower for signing the Agreement;
5) Certificate of the amounts of income received from sources in the Republic of Kazakhstan and withheld (paid) taxes for the previous annual tax period (tax reporting for the last 3 years with breakdowns);
6) Financial statements for the last 3 years (balance sheet, income statement, cash flow statement) with breakdowns.
7) Statement (certificate) on turnovers in banks served for the last 3 years.
8) Information on the absence (presence) of debt, the records of which are kept in the state revenue bodies;
9) Certificate of absence of overdue debts in second-tier banks;
10) Help on the credit history of the borrower.
11) Copies of title documents for the provided collateral property:
12) Certificate of registered and terminated rights to real estate (in case of providing real estate as an encumbrance);
13) Certificate of registered rights (encumbrances) to real estate and its technical characteristics;
14) Agreements and contracts for the purchase of goods on loans provided (including agreements of intent, etc.), if any.