Development of a microfinance system for small and medium-sized businesses

At a meeting of the Regional Government, a procedure was adopted for granting subsidies to non-profit organizations for financial support of the development of the microfinance system for small and medium-sized businesses in the context of a worsening economic situation due to the spread of the new coronavirus infection, which will allow to allocate more than 139 million rubles for microfinance support in June. from the planned volume. More than 265 million rubles will be allocated from the regional and federal budgets to provide microfinance support to small and medium-sized businesses.

Currently, the Ministry of Economic Development, Investments, Tourism and External Relations, together with microfinance organizations of the region, is developing a new line of microfinance products.

But it is already clear that microloans will be allocated on concessional terms. The interest rate for microloans will be 3.5% per annum, and for investment projects, 1.5% per annum. The term of a microloan is no more than 3 years.

Most importantly, applications will be reviewed within one day.