Amid high inflation and consistently high base rates, one of the key demands of SMEs remains access to quick financing. Responding to this challenge is NurBank's new product - the 'MSB Drive' credit program, specially developed taking into account the current needs of entrepreneurs.
Gulnara Musataeva, Chairman of the Management Board of NurBank, discusses what issues 'MSB Drive' addresses, how it's integrated with the Damu Fund's tools, and why SMEs remain a priority area for NurBank.
- NurBank launches 'MSB Drive' - a new product for SME lending. What business needs will it address?
- Today, businesses continue to operate under a high base rate. The 'MSB Drive' product is designed to respond to one of the key demands of entrepreneurs - accessing affordable and quick financing even in current challenging macroeconomic conditions.
Key advantages of the program include quick application reviews, a minimal document package, and transparent loan conditions. Additionally, thanks to a simplified payment capacity analysis system based on tax reporting, we can ensure quicker decision-making. The product is aimed at both existing entrepreneurs and companies needing funding for business development, refinancing of previously obtained loans, or quick financial support for addressing current challenges.
Under the program, loans up to 120 million tenge can be arranged. There is a grace period of up to 6 months deferment on the principal for working capital, up to 12 months for investment projects. Loan types: revolving/non-revolving credit line. Financing can be received in tranches without repeated formalities.
- One of the program's goals is to support business development. How does the grace period benefit entrepreneurs?
- Entrepreneurs can obtain loans for up to 7 years with a grace period on the principal. For businesses, this is crucial as the funds can be directed towards new developments, production modernization, seasonal purchases, or project launches without immediately focusing on repaying the principal. This is especially relevant for seasonal businesses or companies just launching their project.
- Despite high rates, entrepreneurs increasingly opt for refinancing old loans. What does 'MSB Drive' offer in this area?
- Yes, businesses see refinancing as a way to enhance financial stability. 'MSB Drive' offers terms for refinancing previously issued loans under more favorable conditions - with extended terms, a grace period, and the possibility of consolidating obligations. Consequently, the client gains more control over cash flows.
- NurBank has long collaborated with the Damu Fund. How is this reflected in the new product?
- NurBank is a long-standing partner of the Damu Fund and has been supporting state programs for the development of small and medium-sized enterprises implemented by the Fund for over 15 years. Thanks to NurBank's participation in state support and development programs for entrepreneurship, our clients have realized many successful projects across different sectors of the economy. The total funding amount from the Bank under various state entrepreneurial support programs during this period reached 77.2 billion tenge.
'MSB Drive' is fully integrated with the tools of the Damu Fund. Provisions are made for interest rate subsidization, reducing the cost of credit for clients and making it more accessible. Additionally, for many SME entrepreneurs, a lack of liquid collateral is a key barrier to obtaining a loan. To make financing more accessible under 'MSB Drive', there is provision for using the Damu Fund guarantee as collateral for a loan when collateral is insufficient. We believe the fund's guarantee is an effective form of state support for SME representatives.
- SMEs are a vital segment for NurBank. What are your expectations of SME development in Kazakhstan?
- The role of small and medium-sized businesses in Kazakhstan's economy is hard to overestimate. Today, SMEs are a driving force of the country's economic growth. By the end of 2024, the share of SMEs in the country's GDP reached nearly 40% - a record figure in recent years. According to official statistics, as of January 1, 2025, there were 2,261.8 thousand SME entities registered in the country, of which 2,071.7 thousand are active. Over 4.4 million people are employed in the sector, constituting almost half of Kazakhstan's economically active population.
From the banking sector's perspective, at NurBank we consider SME development one of our strategic priorities. This segment is one of the most dynamic with high economic potential, contributing to job creation and regional development. Therefore, our role as a financial partner is to create effective financial instruments for entrepreneurs, such as our new product 'MSB Drive', as well as providing comprehensive support, including consulting and development programs.
In the coming years, we are confident that the role of SMEs in Kazakhstan's economy will only grow. The launch of a new credit product is our response to market and client demands. We offer a solution characterized by simplicity, transparency, and accessibility. I am confident that 'MSB Drive' will become a real driver of development for our clients - helping them realize their plans, strengthen their business, and identify new growth opportunities.
Source: https://dknews.kz/ru/dk-life/363435-msb-drive-dostupnyy-instrument-dlya-rosta-i