YEREVAN, March 4. /ARKA/. Armenia’s SME Development National Center lent AMD 789.4 million to small and medium startup companies in 2013 against AMD 262.6 million in 2012, according to the center’s report for 2013.
The guarantees provided by the center totaled AMD 798.1 million in 2013 against AMD 268.4 million in 2012. The loans were extended through VTB Bank (Armenia), the center’s partner.
Only 224 startup companies of 632 applicants obtained financial assistance, since their business plans were found most feasible. Other 100 business plans are already approved and are undergoing necessary procedures now.
An average size of a guarantee and the amount lent to startups is AMD 3.6 million.
Under the Armenian government’s program aimed at supporting small and mid-scale businesses, 17,243 small and medium startups received assistance from the National Development Center in 2013 against 8,507 in 2012.
According to the National Development Center, about AMD 150.8 million has been allocated from the 2013 government budget under the SME-supporting program. ($1 – AMD 414.16). M.V.---0----