YEREVAN, NOVEMBER 30, NOYAN TAPAN. Starting from 2004 the Fund Small and Medium Entrepreneurship Development National Centre of Armenia (The SME DNC of Armenia) implements Start-up Business Support Programs in the framework of the SME State Support Annual Programs. As a result of participation in the Program start-up entrepreneurs aquire knowledge and skills in marketing, management, business planning, prime costs calculation, financial planning, as well as receive information on tax legislation of the RA, accounting, state registration procedures, etc. Taking into consideration the necessity of extension of crediting opportunities for start-ups and improvement of credit terms, the SME DNC of Armenia in cooperation with UNDP office in Armenia and UK DFID in October 2006 has established the Revolving Fund to support start-up entrepreneurs in amount of 7 mln AMD (about 18.5 USD). Business plans received the best appraisal as a result of the Program gain a possibility to get the loan. The SME DNC of Armenia guarantees the loan obligation by 100%. The loan is provided on following terms: maximum amount 1,000,000.00 AMD, with 12% annual interest rate, maximum duration - three years. In 2006 10 months the Start-up business support programs were implemented only in the regions of Armenia, in the framework of which 112 start-up entrepreneurs were supported, and 16 of them have received state registration, creating 22 additional work places in marzes, 24 are in the process of registration.

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