SMES rely on multi-purpose loans
In the period of June 2014 to June 2015, the loan portfolio of small and medium-sized enterprises increased by 10% and consumer credits to small businesses fell immediately by 57%, media reported. By the end of June, the portfolio of issued loans to SMEs totaled 1.69 trillion tenge. According to the National Bank of Kazakhstan, in June, the interest rate on consumer loans to small businesses made up 12.4%, SME loans were amounted to 11.8%. A year ago, this figure was at 13% and 11.2%, respectively. Consumer loans are gradually losing popularity among entrepreneurs who used such loans for business purposes. Preferences shift toward multi-purpose loans for SMEs, first, due to the simplification of the procedure of financial analysis, second, thanks to the reduction of the period of examination of applications and lower rates.