Loans for Flood-Impacted Knowledge-Based Companies

EghtesadOnline: The government-backed Iran National Innovation Fund (INIF) will lend to help restore knowledge-based companies affected by the recent floods.

News ID: ۷۴۷۱۴۵

27 April 2019

Flooding that swept across 24 provinces since March damaged infrastructure and buildings and inflicted loses also on tech companies.

According to an authority with the INIF Mohammad Khayyatian, loans will be offered to companies inflicted by the deluge to help them restore their business, according to Financial Tribune.

He said the extent of damage inflicted by floods on the knowledge-based companies will be estimated in collaboration with the provincial science and technology parks, Shanbepress news website reported.

"Depending on the severity of damage, the INIF will offer loans to the knowledge-based companies to help them get back on their feet," Khayyatian said.

A number of companies had borrowed money for their business before the floods. Considering the hard times they face after the natural disaster, the fund is planning to give them a grace period for repaying loans.

He did not provide more information on loans or installments.

The INIF is ready to “help accelerators temporarily move, or if possible set up branches in the deprived or flood-stricken areas to support knowledge-based companies get back to normalcy.”