and find out its personal specific terms.
References.
Dauranov I.(2000), Maliy bisnes: problemi oformleniya kredita, Al Pari
No.5:82.
Kreditovaniye, 2001 http://www.hsbk.kz/default.asp?page=corporate&n=credit
Kreditovaniye, 2001 http://www.kkb.kz/banking_re/sber/service/06_credit.asp
Osnovniye prinzipi kreditovaniya MP, 2001
http://www.tacisinfo.ru/brochure/banksme/pzayav_m.htm
Sahauyeva Zhanar, 2001, interview
Yevropeyskiy bank rekonstrukzii I razvitiya, 2001
http://www.fund.kz/ebrr_c.html
V. Data Analysis.
Now we will summarize all research paper.
It is very necessary to develop lending system in Kazakhstan. There are
many reasons for this: small business creates new workplaces, form middle
class, develop trade and production, and it was notices that mainly small
business develops and invents new goods and services, because in that way
small business has a chance to be marked and successfully manage the
business. In order to carry out these functions, enterprises needs money to
increase its turnover, employ more workers for development, buy new
equipment, buildings, to make capital investments in other companies, etc.
For these purposes enterprises are usually demanding money, but most banks
most likely to give loans to increase turnover, this is connected with
assurance of the loan. For example, our considered “Oasis” company took
loan in order to increase working capital, may be bank was fulfilled by
this purpose of the company and may be this was one of the reasons of
receiving a credit.
There are many documents, demanded in banks from companies, which are
trying to receive a loan. But the most important for decision-making is
financial statements of the prospective borrowers. Many firms conduct
double-accounting, this means, that they give one variant of the financial
statements to tax commission and another to investors and banks. It is easy
to understand why enterprises do so, they are trying to survive and cheat,
and there are many reasons to do this, and one of them high taxes. But,
banks know that enterprises conduct separate accounting for them and try to
prevent it. For instance, Bank Centercredit, which lent money to “Oasis”
company, demanded annual financial statements of the company, which were
given up to the tax commission. It is difficult to run a business so, that
its financial statements would satisfy banks and enterprises tax aversion.
Another important thing is meeting with representative of credit department
of the bank. And it is necessary that your business left a good impression.
You will have to show your business, show how it works, your equipment,
employees, offices. Each enterprise have o meet with representative if
company really wants to receive a loan.
A huge problems arises when enterprise have to assure a loan by giving a
pledge to the bank. Two main problems are: that banks underestimate the
cost of the pledge and difficulties with preparing documents confirming
your ownership of the pledge. Banks prefer real estate as a pledge, but
small enterprises do not have any buildings, because they are limited in
money. Thus, our banks want more, than enterprises are able to allow
themselves.
Important item in receiving a loan both for enterprises and banks is
interest rates. As it is expected banks demand too high payment for lending
money. Interest rates are too high and most enterprises do not asking for a
loan because there will come a day and you will have to pay everything back
with high payment for the banks services. Nevertheless, not everything is
so bad, there are special programs of supporting small business, which
offer lower interest rates, and this is a real chance for enterprises.
However, arises another problem: there are too many firms, desiring to
receive a loan on lower interest rate. Thus, increase control over
maintenance, financial situation of the company, etc. Repayment date is
also important, but banks usually make a personal schedule for repayment.
Usually there are monthly payments with increasing interest rate.
We can see, that there is many difficulties arise with receiving a loan.
Many problems due to banks want to ensure their loans, they want more safe,
but enterprises are not able to suit banks’ requirements, thus there are
problems with documents, providing liquid enough pledge, meeting with
representative of credit department and many-many others.
VI. Conclusion.
From the conducted research we can conclude, that enterprises meet with a
very many problems, when they are trying to receive a credit. Our lending
system needs to be improved. First of all, banks should be more indulgent
to small enterprises, which are not able to meet some requirements of the
banks, especially about pledge.
Secondly, there should be more programs on supporting small business, like
decreasing interest rates, give credits for a more long periods of time,
etc.
Thirdly, banks should stop working only with “big people” with “big money”,
but also help small enterprises to enter into market and freely
functionate.
There some measures, which were applied in order to improve our lending
system, and they are works, but there should be more support to small
business, because it is so weak in Kazakhstan. Some enterprises, which are
pretty big, rather than others, are gain on these programs, but there
should be some support to the beginners.
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http://www.kkb.kz/banking_re/sber/service/06_credit.asp
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http://www.tacisinfo.ru/brochure/banksme/pzayav_m.htm
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Appendixes.
Appendix 1
Checklist.
Respondent: Ms. Sahauyeva Zhanar, the chief accountant of “Oasis” company.
1. Information about company.
1. For what purpose company was organized?
2. Sources of funded capital (relatives, savings, sponsors)?
3. In which sphere do you work (trade or production)?
4. How many employees do company has?
2. Goals of receiving a loan.
2.1. How do you think, do small enterprises need to be credited?
2.2. How company used a loan?
2.3. What amount of gain did company received from the loan?
3. Loan.
3.1. In what bank do you prefer to receive a loan?
3.2. What liquid pledge did the company provide?
3.3. What interest rates did the company pay?
3.4. In which terms the company can made a repayment (monthly, quarterly
or in the certain date)?
Appendix 2
Table #1
| |For the 1 October 1997 |For the 1 April 1998 |
|Regions | | |
| |Parity of small |Parity of small |
| |business wages and |business wages and |
| |region’s (%) |region’s (%) |
|Akmolinskaya |64.5 |74.9 |
|Aktubinskaya |53.8 |46.0 |
|Almatinskaya |91.5 |75.9 |
|Almaty |80.2 |70.9 |
|Atirauskaya |52.2 |50.3 |
|Zhambilskaya |40.3 |36.9 |
|Karagandinskaya |38.3 |35.6 |
|Kizilordinskaya |45.2 |41.9 |
|Kostanayskaya |75.7 |63.8 |
|Mangistauskaya |75.2 |66.7 |
|Pavlodarskaya |63.5 |55.9 |
|Total |680.4 |618.8 |
(Source: Tukayev, 1998).
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[pic]
Graph #1
