Tbilisi City Hall is launching a new program to support micro and small businesses. As the mayor of the capital, Kakha Kaladze, noted at the Tbilisi Municipality Government meeting, entrepreneurial legal entities or individuals whose annual turnover does not exceed 500,000 GEL will be financed.

"We are launching a new program to support micro and small businesses. The program aims to create new opportunities for those entrepreneurs who previously did not have sufficient financial resources to develop their own businesses. Financing will allow them to acquire the necessary technical equipment, improve production processes, increase the number of employees and provide consumers with a higher quality and competitive product.

Within the framework of the program, financing will be provided to those legal entities or individuals who are active entrepreneurs whose annual turnover does not exceed 500,000 GEL. Financing will be provided to both equipment/machinery/technology required for the production of products, as well as other categories required for the processing of products and the creation of added value," said Kakha Kaladze.

According to him, at the initial stage, the maximum amount of requested co-financing is set at 20,000 GEL, and the proportionality of the applicant's participation in co-financing is determined as follows: up to and including 5,000 GEL - 10% of the requested amount; 5,001 - 20,000 GEL - 15% of the requested amount.

“As for the evaluation methodology, the selection of beneficiaries will be carried out according to specific criteria based on the program’s objectives and the effectiveness of the support. During the selection, preference will be given to those candidates who have an active enterprise and present a real construction plan for the purchase of a machine or equipment that will significantly improve their activities. Special attention will be paid to those applications where it is clearly seen that the investment will improve the quality of products or increase the volume of production and create added value - introducing a product line, improving an existing product or optimizing the production process,” the mayor of the capital noted.

According to him, the submission of applications will start today and will continue for 15 calendar days.

For information, detailed information about the application form and required documents can be found on the official website of the Tbilisi City Hall.