Small Business Support Program (CRO-SBSP)
The Circassian Repatriation Organization (CRO) is pleased to announce a new support program for small businesses.
Program Name: 2015 CRO-SBSP
Introduction: One of the CRO main objectives is assisting and providing aid to Circassians throughout adversity and hardship. The CRO is committed in providing necessary supports to help Circassians settle, integrate with the new local environments and become financially independent. Therefore, the CRO initiated a new project that can help people with business ideas fulfil their dreams. Starting and establishing a successful businesses can improve the living standards of the business owners and slowly but surely can improve the economical conditions of the community in large.
Eligibility: The CRO encourages every Circassian who returned to the Caucasus in the last five years and plans to start a business to apply for this program. The Applicant must have a Russian Citizenship or Permanent Residence in the Russian Federation.
Number of Projects: During this current initiative, several projects will be supported based on the requested support and the funds available in the pool.
Type: Commercial, Industrial or Agricultural
The repaying timeline will depend on the size of the loan and the type of project.
In general, all loans should be repaid in full within three to five years.
The repaying mechanism can be suggested by the borrower. The suggested mechanism will be considered during the evaluation process of the application.
Once a loan is approved, a repaying schedule will be determined and will be part of the signed loan agreement.
In order to cover application process fees and be able to support future projects, the borrower shale return the full loan amount plus 3% per year. The collected 3% per year will be used only to cover operation costs and to further support such programs in the future.
Submission Date: Applications are open for submission until Oct. 15th, 2015.
Please submit your application to the following e-mail: firstname.lastname@example.org
The application should include the following:
1. Application Form (Form # 2015-SBSP)
2. Comprehensive Business feasibility Study that includes a detailed information about the project and financial planning.
4. Copy of the Russian Citizenship or Permeant Residence document.
Announcement of Evaluation Result:
The evaluation results of all applications will be announced on or before De. 31st, 2015.