Until the end of 2024, small and medium-sized enterprises (SMEs) will be able to attract 180 billion rubles in loan funds secured by an “umbrella” guarantee. This is stated in the message from the SME Corporation.
Author:
https://rb.ru/author/maryina/
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The SME Corporation reportedly provided 50 billion rubles in collateral limits to participating banks in the fourth quarter of 2024 to stimulate lending to small businesses. An additional 40 billion rubles will be allocated at the request of credit institutions that exhaust their limits ahead of schedule.
Who participates in the SME Corporation program:
- Sberbank
- “Alfa-Bank”
- “Promsviazbank”
- “T Bank”
- VTB
- “SME Bank”
- “Sovcombank”
- “St. Petersburg”
- RNKB
- “Levoberezhny”
- GPB
- “Uralsib”
- “Rosbank”
- “Absolute Bank”
- “Zenith”
- “Dom.RF”
- “Genbank”
“Umbrella” guarantees are a government support instrument that allows companies to solve the problem of shortage or lack of guarantees when they turn to banks in search of financing. Guarantees cover up to 50% of the loan amount and allow entrepreneurs to meet banking requirements for providing guarantees.
The mechanism was developed and launched on behalf of the President of Russia. It is valid from September 2021. The support measure is being implemented within the framework of the national project “Small and Medium Enterprises”.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
