Title: Government Boosts Entrepreneurship with Major Loan Increase for Job Seekers and Women
Tehran – In a significant move to bolster private sector growth and empower its citizens, the Iranian government has substantially increased the ceiling for its self-employment loan program, raising it from 150 million to 200 million tomans.
This initiative is a central component of the administration’s supportive package designed to stimulate non-governmental businesses and provide tangible opportunities for the nation’s youth and other targeted groups.
A Strategic Investment in People
The soft loan, offered at a minimal 4% interest rate, is strategically aimed at key segments of the population. The primary beneficiaries include women-led households, university graduates, and residents of underdeveloped regions. The program is designed to enable recipients to launch sustainable small or home-based businesses by providing the crucial initial capital they often lack.
To qualify, applicants must present a viable and economically justified business plan for approval by relevant authorities, such as the Ministry of Cooperatives, Labour, and Social Welfare or the Omid Entrepreneurship Fund.
Eligibility and Repayment Terms
The conditions for receiving the self-employment loan are clearly defined to ensure the support reaches its intended audience. Key requirements include:
- Possessing relevant skills or professional experience.
- Submitting a sound business plan for official review.
- Being registered on designated government platforms.
- Having a clear financial record with no outstanding bank debts.
- Falling within the general working age bracket.
The repayment period is flexible, typically ranging from three to seven years, and includes a grace period of six months to one year before the first installment is due. This allows new businesses time to establish themselves and begin generating revenue. Collateral for the loan can be provided through a reliable guarantor, property deeds, or other acceptable securities.
This policy enhancement underscores the government’s ongoing commitment to fostering economic resilience, reducing unemployment, and supporting the entrepreneurial spirit across the nation.