Articles · State programs
Damu loans in 2026: terms, rates and how to apply
How concessional loans backed by the Damu Fund work in 2026: the Orleu and Isker Aimak programs, guarantees when collateral falls short, who is eligible, documents and how to apply through a bank.
Dala Capital · updated 5 October 2026 · 7 min read
At a glance
- The Damu Fund does not lend directly. A partner bank provides the money, and the fund lowers the rate or guarantees part of the loan.
- The main programs in 2026: Orleu — a rate for the business of no more than 12.6% a year, up to ₸7 billion; Isker Aimak — up to ₸200 million for micro and small businesses, with the state subsidising 40% of the rate.
- If collateral falls short, the fund can guarantee up to 85% of the loan amount.
- You apply to the bank, not to the fund. The bank decides first, then the fund reviews the project.
What the Damu Fund is and how it takes part in a loan
Damu is the Entrepreneurship Development Fund, a subsidiary of the Baiterek holding. It works with small and medium businesses through commercial banks, microfinance and leasing companies. So a “Damu loan” is an ordinary bank loan with one of the fund’s support measures attached.
There are three such measures:
- Concessional funding. The fund provides resources to the bank, and the bank lends to businesses at no more than a set ceiling rate. This is how Orleu works.
- Rate subsidies. The bank lends at its own rate, and the state pays part of the interest. This is how Isker Aimak works.
- Guarantee. The fund guarantees part of the loan to the bank if your own collateral is not enough.
The measures can be combined: for example, take a loan under a concessional program and cover the missing part of the collateral with a fund guarantee.
Damu programs in 2026: comparing the terms
- Orleu
- Who it is forMicro, small and medium businesses in priority sectors
- AmountUp to ₸7 billion for investment, up to ₸3.5 billion for working capital
- Rate for the businessNo more than 12.6% a year
- TimelineUp to 10 years for investment, up to 3 years for working capital
- Isker Aimak
- Who it is forMicro and small businesses, agricultural cooperatives
- AmountUp to ₸200 million
- Rate for the businessThe state subsidises 40% of the rate; for the borrower it is no lower than 12.6%
- TimelineSubsidy for up to 3 years
- Fund guarantee
- Who it is forPrivate businesses short of collateral
- AmountLoan up to ₸7 billion, guarantee up to ₸3.5 billion
- Rate for the businessBank rate plus a 1.5% guarantee fee
- TimelineFor the term of the loan
| Program | Who it is for | Amount | Rate for the business | Timeline |
|---|---|---|---|---|
| Orleu | Micro, small and medium businesses in priority sectors | Up to ₸7 billion for investment, up to ₸3.5 billion for working capital | No more than 12.6% a year | Up to 10 years for investment, up to 3 years for working capital |
| Isker Aimak | Micro and small businesses, agricultural cooperatives | Up to ₸200 million | The state subsidises 40% of the rate; for the borrower it is no lower than 12.6% | Subsidy for up to 3 years |
| Fund guarantee | Private businesses short of collateral | Loan up to ₸7 billion, guarantee up to ₸3.5 billion | Bank rate plus a 1.5% guarantee fee | For the term of the loan |
Limits, sector lists and requirements change during the year: each program has an annual budget, and banks allocate it within their own limits. Check the terms on damu.kz or with the bank before applying.
Who can get a loan with Damu support
The basic requirements are similar across programs:
- An LLP or sole proprietorship registered in Kazakhstan and classed as a micro, small or medium business. Isker Aimak is for micro and small businesses only.
- The sector and the purpose of the loan fit the program terms. Orleu has a list of priority activities by economic activity (OKED) codes: manufacturing, transport and warehousing, tourism, IT and creative industries.
- No loan arrears over 60 days and no tax debt.
- The state owns less than 25% of the charter capital, and the company is not registered in an offshore zone.
- The business can show the bank where the money to repay the loan will come from.
The programs do not finance production of excisable goods, gambling, weapons and a number of other activities.
What you can and cannot use the loan for
Usually allowed: investment — buying equipment, construction, renovation, expanding production — and working capital: raw materials, supplies, rent, wages. Under Orleu you can also refinance recently issued loans.
The loan cannot go towards buying an existing business, dividends, repaying old debts (other than refinancing under program rules), taxes, consumer needs or securities. Under Orleu, buying commercial property is financed if the property is needed for a priority-sector activity and the project explains why the business needs it. So it is best to define the purpose of the loan with someone who knows the program rules.
How to get a Damu loan: step by step
- Choose the program that fits the purpose, amount and sector. Most future rejections are avoided at this step.
- Choose a bank with a limit under that program. Banks working with Orleu include Halyk Bank, Bank CenterCredit, Freedom, ForteBank, Bereke Bank, Nurbank and Eurasian Bank — the full list is on damu.kz.
- Prepare documents and calculations: a business plan, financial statements, details of collateral and current loans.
- Apply to the bank. The bank analyses the project and makes a lending decision.
- The bank passes the approved project to the fund. The fund checks that it meets the program terms and, if a guarantee is involved, issues the guarantee.
- Sign the agreement with the bank and receive the money. Then confirm the intended use: documents showing payment for and receipt of equipment, works or services.
Advice on the programs is available at the fund’s branches and its unified contact centre, 1408.
What documents are needed
The bank provides the exact list, which depends on the amount and purpose. Usually it asks for:
- registration documents: for a sole proprietor, the registration certificate or notice; for an LLP, the charter, the decision appointing the director and the director’s ID;
- financial and tax statements and account turnover statements for the past year;
- a business plan with a monthly cash-flow forecast;
- collateral documents and details of current loans;
- commercial offers or contracts for what you are buying: equipment, works, services.
What banks look at for sole proprietors is covered in Concessional loans for sole proprietors.
What it costs and how long it takes
Under Orleu the bank may charge a loan arrangement fee of no more than 0.5%. A fund guarantee costs 1.5% of the guaranteed amount: on signing and then annually on the outstanding balance.
From the first conversation to the bank’s decision usually takes about six weeks. Most of the time goes into calculations and answering the bank’s questions.
The loan calculator shows how much you save on the rate — it includes Orleu and Isker Aimak. For example, a ₸100 million loan over 7 years at 24% costs about ₸107 million in interest, and at 12.6% about ₸51 million.
Frequently asked questions about Damu loans
Can I get a loan directly from the Damu Fund?
No. The fund works through commercial banks, microfinance and leasing companies. You apply to a partner bank, and the fund joins after the bank’s decision.
What is the Damu loan rate in 2026?
Under Orleu — no more than 12.6% a year. Under Isker Aimak the state subsidises 40% of the bank rate (50% for social entrepreneurs), but the borrower’s rate is no lower than 12.6%. A loan with only a guarantee carries the bank’s rate.
Can I get a Damu loan without collateral?
Entirely unsecured — rarely. If collateral falls short, the fund can guarantee part of the loan, up to 85% of the amount. What you buy with the loan can also serve as collateral. More in the article on the Damu guarantee.
Can I get a Damu loan to start a business?
Most programs require an operating business with financial statements. For a start-up there is the state Bastau Business grant — see the article on business grants.
Why might a bank decline a Damu program loan?
Most often because the sector or purpose does not fit the program, collateral is short, figures do not match the financial statements, or the source of repayment is unclear. Seven reasons are covered in Why banks decline concessional loans.
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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