Yesterday I was looking at the London Stock exchange for two Georgian companies I know for sure are listed there - Bank of Georgia and TBC bank.
When looking through the data for TBC bank, I read an interesting update, that TBC bank has concluded a 103 million GEL loan.
TBC Bank Group PLC (“TBC PLC”) announces that its subsidiary, JSC TBC Bank ("TBC Bank"), has signed a loan agreement in the amount of GEL 103 million with FMO, the Netherlands Development Finance Company. The five year loan facility will be used primarily to finance young entrepreneurs running micro, small and medium size enterprises in Georgia, as well as young retail customers requiring mortgage loans. The local currency funding will be obtained by FMO through a public placement of bonds on the Georgian Stock Exchange.
This morning I noticed an interesting ad on Facebook in Georgian
Startuperi Facebook ad
The ad and content are available in Georgian only, but using quick Google Translate I was able to get the meaning:
All borrowers can register for individual consultations with industry professionals in the following fields:
- Digital Marketing
- management of human resources
* Consultation is fully funded by TBC Bank and Asian Development Bank
- Volume - Maximum 200,000 GEL
- Loan up to 15,000 GEL without collateral and participation
- Without collateral - maximum GEL 50,000
- Target - for any purpose other than covering the obligation and personal consumer purposes
- Term - maximum of 7 years
- Grace Period for a maximum of 1 year
- Participation - 30% (when the business is already registered and has a sales experience)
- Participation - 50%
- Individual payment schedule
Participation can be
- Cash investment
- Non-cash asset
- Intellectual resource (in case of technological business)