Question 1

What is Atameken Qyzylorda Microfinance Organization?

Accepted Answer

Atameken Qyzylorda Microfinance Organization is a specialized microfinance institution (MFO) operating in the Kyzylorda region of Kazakhstan. The organization focuses exclusively on business financing for entrepreneurs who have completed the government-supported "Bastau-Business" training program.

Unlike traditional consumer lending institutions, this MFO provides microloans specifically for launching or expanding small business ventures in rural areas, mono-towns, and small cities across the Kyzylorda region. The organization operates under license №11.21.0009.М issued by Kazakhstan's financial regulatory authority.

Question 2

When was Atameken Qyzylorda Microfinance Organization founded?

Accepted Answer

Atameken Qyzylorda Microfinance Organization was registered on June 2, 2021, with Business Identification Number (BIN) 210640003702. The organization received its microfinance operating license on July 19, 2021.

The MFO was established as part of a broader entrepreneurial support initiative by the National Chamber of Entrepreneurs of the Republic of Kazakhstan "Atameken" in collaboration with regional authorities. In the summer of 2021, Atameken allocated 1 billion tenge specifically for financing entrepreneurs in the Kyzylorda region who had successfully completed the Bastau-Business program.

Question 3

Where is Atameken Qyzylorda Microfinance Organization headquartered?

Accepted Answer

The organization is headquartered in Kyzylorda city, the administrative center of Kyzylorda region, located in southern Kazakhstan. The Kyzylorda region is situated in the lower reaches of the Syr Darya River, bordering Uzbekistan to the south and other Kazakh regions including Aktobe, Ulytau, and Turkestan.

Applications for microloans can be submitted through offices of the National Chamber of Entrepreneurs "Atameken" located throughout the region.

Question 4

Where does Atameken Qyzylorda Microfinance Organization operate?

Accepted Answer

Atameken Qyzylorda Microfinance Organization operates exclusively within the Kyzylorda region of Kazakhstan. The region encompasses seven districts: Aral, Karmakshy, Kazaly, Shieli, Syrdarya, Zhalagash, and Zhanakorgan, as well as the city of Kyzylorda.

The organization specifically targets rural areas, mono-towns, and small cities within the region. Kyzylorda region covers approximately 226,000 square kilometers in southern Kazakhstan and has a population of over 800,000 residents, with a strong emphasis on agricultural and small business development.

Question 5

What services does Atameken Qyzylorda Microfinance Organization offer?

Accepted Answer

The organization offers specialized business microloans exclusively for entrepreneurial purposes. Key features include:

Loan amounts: Ranging from 500,000 to 8,000 monthly calculation indices (MCI), with the maximum amount varying by location—up to 2,500 MCI in rural areas and small towns, up to 6,500 MCI in most cities, and up to 8,000 MCI in select larger centers.

Interest rates: Approximately 6% annual effective interest rate, significantly subsidized through government support programs.

Loan terms: Up to 60 months (5 years) for general business purposes, extended to 84 months (7 years) for livestock farming ventures.

Grace periods: 6-12 months grace period available for loan repayment.

Collateral requirements: Loans require security in the form of commercial real estate, specialized equipment, machinery, or guarantees from third parties.

The MFO does not provide consumer loans, refinancing services, or loans for residential property purchases, land acquisition, or pure trading activities.

Question 6

What makes Atameken Qyzylorda Microfinance Organization unique?

Accepted Answer

Atameken Qyzylorda Microfinance Organization has several distinctive characteristics:

Exclusive focus on Bastau-Business graduates: The organization only serves entrepreneurs who have successfully completed the Bastau-Business training program and hold certification, ensuring borrowers have fundamental business skills and knowledge.

Government-subsidized rates: Through state support programs, the organization offers interest rates around 6%, significantly lower than typical commercial microfinance rates in Kazakhstan, which can exceed 25% annually.

Regional development mission: The MFO specifically targets underserved areas including rural communities, mono-towns, and small cities, supporting economic diversification and entrepreneurship in less developed regions.

Partnership structure: The organization operates through a collaborative financing model involving the National Chamber of Entrepreneurs "Atameken," regional akimat (local government), and borrowed funds.

Individual review process: Each loan application is reviewed individually by a committee, ensuring personalized assessment of business proposals.

Question 7

What type of financial institution is Atameken Qyzylorda Microfinance Organization?

Accepted Answer

Atameken Qyzylorda Microfinance Organization is classified as a microfinance organization (МФО) under Kazakhstan's financial regulatory framework. MFOs in Kazakhstan are specialized financial institutions governed by the Law "On Microfinance Organizations" and regulated by the Agency for Regulation and Development of the Financial Market.

Unlike banks, MFOs in Kazakhstan have a narrower scope of permissible activities, focusing primarily on microcredit provision to individuals and small businesses. They cannot accept deposits from the public but can attract loans from residents and non-residents, invest in securities, and provide consulting services related to microcredit.

This organization specifically operates as a development-oriented MFO, emphasizing social and economic impact rather than profit maximization, with a mandate to support small and medium enterprise development in the Kyzylorda region through subsidized lending programs.

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Atameken Qyzylorda Microf­inance Organi­zation