Tbilisi City Hall will offer ‘cheap loan’ deals for flood-affected entrepreneurs

Entrepreneurs affected by disaster or other accidents will soon benefit from preferential loans thanks to a ‘cheap loan program’ initiated by Tbilisi City Hall.

Discussions on this topic started today at a special meeting in Tbilisi City Hall.

Speaking at the meeting Tbilisi Mayor Davit Narmania said the affected entrepreneurs will be able to take loans at three percent interest rate.

We do not mean only the enterpreneurs that were affected by the June 13-14 disaster. In general every entrepreneur in Georgia who suffers from fire damage or other force majeure circumstances will be able to enjoy the City Hall’s cheap loan program," Narmania said.

In particular, interest rates for them will be three percent instead of six. The payment period will be increased from 60 to 84 months, while the preferential period will be extended from six to 12 months,” he added.

The City Assembly will make the final decision in the near future.