Economy, Business And Markets

Tech-Based Firms Get $540m in Loans by Q3

Tech-Based Firms Get $540m in Loans by Q3Tech-Based Firms Get $540m in Loans by Q3

Knowledge-based firms received about 24.4 trillion rials ($540 million) in loans from banks and credit institutions in the first nine months of the current fiscal year to Dec. 21, the Central Bank of Iran announced.
In its latest report published on its website, the regulator put the volume of loans allocated by the banking system to tech firms in the month ending Dec. 21 at more than 3.93 trillion rials ($87.46 million), which bring the grand total of those 10 months to more than 28.33 trillion rials ($630.53 million).
According to the central bank, the total volume of the original amount, plus interest on the loans that tech-based firms had to reimburse to the banking system, was equal to more than 36.81 trillion rials ($819.27 million) by the end of the third quarter. 
As 953 firms were among the indebted, the average of their debts stood at 38.6 billion rials ($860,000).


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