Articles · State programs
Isker Aimak: loans up to ₸200 million with a subsidised rate — terms for 2026
How the Isker Aimak program works: who is eligible, the 40% rate subsidy and the 12.6% minimum rate, amounts and terms, counter-obligations, the Damu guarantee and how to apply through a bank.
Dala Capital · updated 5 October 2026 · 5 min read
At a glance
- Isker Aimak is a unified support program for micro and small businesses, approved in December 2025. It is operated by the Damu Fund.
- Loans up to ₸200 million for investment or working capital.
- The state subsidises 40% of the nominal rate (50% for social entrepreneurs) for up to 3 years. The borrower’s rate is no lower than 12.6% a year.
- If collateral falls short, the fund can guarantee up to 85% of the loan amount.
What the program is
Isker Aimak (also searched as “Isker Aymak”) brings together support measures for small businesses in the regions, including villages and small towns. The program runs until 2028: ₸400 billion is allocated for 2026 and ₸1.2 trillion for the whole period — about 5,000 projects a year.
Loans are issued by commercial banks, microfinance and leasing companies, and the Damu Fund subsidises part of the rate. Priority goes to manufacturing, agricultural processing, food, furniture and building materials production, and crafts.
Program terms
- Who can take part
- TermMicro and small businesses, agricultural cooperatives
- Amount
- TermUp to ₸200 million per project
- Purpose
- TermInvestment or working capital
- Nominal rate
- TermNational Bank base rate + 4 pp, but no higher than 21%
- Subsidy
- Term40% of the nominal rate, 50% for social entrepreneurs
- Borrower’s rate
- TermNo lower than 12.6% a year
- Subsidy period
- TermUp to 3 years
- Collateral
- TermAs required by the bank; if short, a Damu guarantee of up to 85% of the loan
| Parameter | Term |
|---|---|
| Who can take part | Micro and small businesses, agricultural cooperatives |
| Amount | Up to ₸200 million per project |
| Purpose | Investment or working capital |
| Nominal rate | National Bank base rate + 4 pp, but no higher than 21% |
| Subsidy | 40% of the nominal rate, 50% for social entrepreneurs |
| Borrower’s rate | No lower than 12.6% a year |
| Subsidy period | Up to 3 years |
| Collateral | As required by the bank; if short, a Damu guarantee of up to 85% of the loan |
How the rate is calculated: an example
The subsidy is calculated from the bank’s nominal rate. If the bank lends at 21%, the state subsidises 40% — 8.4 pp — and your rate is 12.6%. If the nominal rate is lower, the subsidy is capped so that your rate does not fall below 12.6%.
In money terms: a ₸100 million loan over 3 years at 21% means a payment of about ₸3.77 million a month and about ₸35.6 million in interest. At 12.6% — about ₸3.35 million a month and about ₸20.6 million in interest. The difference over three years is about ₸15 million.
How exactly the subsidy is paid and what the schedule looks like are set by the agreements with the bank and the fund. Work out your own amount in the loan calculator — choose Isker Aimak.
Who can take part
Micro and small enterprises — LLPs and sole proprietors — and agricultural cooperatives. Under the Entrepreneurial Code, a small business has up to 100 employees or average annual income of up to 300,000 MCI. Medium businesses are not covered; Orleu is there for them.
Activities that the Entrepreneurial Code excludes from state support (Article 24, paragraph 4) are not financed.
Counter-obligations
- For investment loans — one new job for every ₸100 million of the loan, at least one, within two financial years; annual income growth no lower than cumulative inflation.
- For working capital loans — annual growth in income and payroll no lower than cumulative inflation.
The obligations are written into the agreement. So revenue growth in the business plan has to be realistic, not written to fit the program.
How to apply
- Check that the business is classed as micro or small and that the purpose of the loan qualifies.
- Choose a bank, microfinance organisation or leasing company that works with the program.
- Apply to the lender. The lender reviews the project and approves the loan.
- The lender itself sends the document package to Damu for the subsidy — there is no need to go to the fund separately.
- Sign the agreements and receive the money.
Advice is available at Damu Fund branches and the 1408 contact centre; mobile front offices travel to remote areas.
Isker Aimak or Orleu
- Who it is for
- Isker AimakMicro and small businesses, agricultural cooperatives
- OrleuMicro, small and medium businesses in priority sectors
- Amount
- Isker AimakUp to ₸200 million
- OrleuUp to ₸7 billion
- Borrower’s rate
- Isker AimakNo lower than 12.6% during the subsidy period
- OrleuNo more than 12.6%
- Concession period
- Isker AimakSubsidy for up to 3 years
- OrleuConcessional rate for the loan term, up to 10 years for investment
| Isker Aimak | Orleu | |
|---|---|---|
| Who it is for | Micro and small businesses, agricultural cooperatives | Micro, small and medium businesses in priority sectors |
| Amount | Up to ₸200 million | Up to ₸7 billion |
| Borrower’s rate | No lower than 12.6% during the subsidy period | No more than 12.6% |
| Concession period | Subsidy for up to 3 years | Concessional rate for the loan term, up to 10 years for investment |
If a business qualifies for both, Orleu is usually better over a long term because the concessional rate lasts longer. Isker Aimak is designed for smaller projects and reaches more of the regions.
Questions about the Isker Aimak program
How much can I get under Isker Aimak?
Up to ₸200 million per project — for investment or working capital.
What rate will the business pay?
The state subsidises 40% of the nominal rate, 50% for social entrepreneurs. During the subsidy period the borrower’s rate is no lower than 12.6% a year.
How long does the subsidy last?
Up to 3 years. If the loan is longer, the rate in the bank agreement applies after the subsidy ends.
Can medium businesses take part?
No, the program is for micro and small businesses and agricultural cooperatives. Orleu suits medium businesses.
Do I need to submit documents to Damu myself?
No. You apply to the lender — a bank, microfinance organisation or leasing company — and after approval it sends the package to the fund itself.
Program terms are based on information from damu.kz, participating banks and operators as of October 2026 and may change. The bank decides on the loan; the Damu Fund decides on subsidies and guarantees. We are a consulting company and do not issue loans.
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