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More loans for small business

THE NATIONAL Agency for Small and Medium-Sized Businesses (NARMSP) has announced plans to lend Sk1.25 billion this year. According to NARMSP director Juraj Majtán, the money is for support loan and micro-loan programmes. Almost Sk1 billion of the funds will come from the state budget and the EU's Phare development program, said Majtán.

The agency's function is to improve access to capital for small and medium-sized businesses. Under the loan support program, businesses can apply for up to Sk5 million at 10.8 per cent interest. There will also be a continuation of non-banking micro-loans of up to Sk500,000, which the agency has provided since 1997. NARMSP operates 12 micro-loan centres throughout the country.

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