No, we do not offer business ideas, but we hold consultations on sectors, however, the applicant is entirely responsible for the idea presented for consideration.
In addition, we conduct training "Basics of Entrepreneurship and choice of ideas for creating a business", the main task of which is to help an entrepreneur choose the most acceptable
and viable business idea.
No, the selection committee has the authority only to approve ideas for starting the processing process and does not have the authority to approve the issuance of the loan. If the idea was
initially approved, it can be rejected at a later stage if the feasibility of the project is not proven or if the applicant does not demonstrate sufficient level of responsibility or can not
fulfill the basic requirements.
The Fund does not recommend consulting with consulting companies to prepare a business plan. Our business consultants can provide advice on the development of business case and
financial plan in addition to the training course. However, applicants can conduct market research and can consult with various industry experts for further insight depending on the project.
No, the Fund does not have any agreements with consultants. However, as mentioned earlier, business consultants of the Fund can support the development of a business plan in
addition to the training program provided for further support in developing a business plan.
with traditional financing and Islamic partner financing, the Fund for the provision of a supplier account transfers the relevant loan
amount to the bank account of a legal entity registered by the entrepreneur.
at Islamic leasing the Fund acquires the chosen goods from the supplier and sells it to the businessman in installments.
The applicant is not liable for repayment of the loan even in the event of the failure of his business. Under Islamic partner financing, the Fund's experts will conduct an investigation
into the unfair behavior of the entrepreneur, cases of negligent attitude towards the project implementation, which will lead to a meeting of the Credit Committee and a decision on the
possibility of granting a discount on the loan repayment.
The business consultant assigned to you will be the curator of your project by the Foundation. At the end of the business start-up phase and the beginning of the operational activity,
your project will be transferred to another business consultant who will be responsible for monitoring and supporting your business.
Islamic financing is based on the principle of distribution of profits and losses, so we (the Fund and the entrepreneur) are partners in the implementation of a business project,
assuming a fair division of risks and income from investments. Our share in profits is determined on the basis of a business plan prepared by the entrepreneur, based on the calculation
that the expected rate of return on the Fund's investments should be 20% per annum.
Traditional financing is based on a fixed interest rate on the loan - 11% per annum, i.е. the amount of interest paid does not depend on the results of the entrepreneur's activities.
Having many years of experience in doing business is not a guarantee that you have chosen the right business idea or have sufficient knowledge to prepare a business plan in accordance with
the requirements of the Fund.