Russia has started issuing the first preferential investment loans under the updated program

In Russia, the first credit agreements with banks have been concluded as part of the program of preferential lending to small and medium-sized enterprises (SMEs). This was reported to Izvestia by the Ministry of Economic Development on April 30.

A total of 17 banks are participating in the program.

"The qualitative growth of the SME sector within the framework of the new cycle of national projects is one of the key tasks set by the President. To do this, it is necessary to ensure a stable and, most importantly, affordable financial flow to the development of companies in priority sectors, and to promote investment growth," said Maxim Reshetnikov, Minister of Economic Development of Russia.

In addition to the concessional lending program, there are other measures in Russia to support entrepreneurs. These include loans under the national guarantee system, umbrella guarantees for SME corporations, purchases from businesses, and the developed infrastructure of the My Business centers, the minister recalled.

At the same time, funds received under investment loans can be used to cover capital expenditures (at least 80% of the total amount of investment loans), as well as current expenses, but not more than 20% of the total amount of investment loans.

"The volume of transactions carried out and planned under the preferential investment lending program indicates that small and medium-sized businesses are increasing their planning horizon, developing production in fast-growing segments, increasing capitalization, and creating jobs. The main feature of the updated lending program is the combination of subsidies from the federal budget and preferential funding from the Bank of Russia, which allows reducing and fixing the rate for the borrower," explained Tatyana Ilyushnikova, Deputy Minister of Economic Development of Russia.

In total, under the preferential program, you can get a loan in the amount of 50 million to 2 billion rubles.

For example, Sibpromizol LLC received a loan of 200 million rubles from VTB Bank to organize the production of mineral wool in the Krasnoyarsk Territory. It is expected that the enterprise will be launched this year and will reach its design capacity in the middle of next year.

"The share of preferential government programs for medium and small businesses in which VTB participates reaches 20% of the total loan portfolio. The Bank is one of the main participants in the updated program of preferential loans to SMEs. For us, this is not just an opportunity to provide affordable financing to entrepreneurs, but also a contribution to strengthening the country's economic sovereignty and developing promising industries," said Ruslan Yeremenko, member of the VTB Board.

"The most popular small business soft loan program will remain in place"

Deputy Minister of Economy Tatyana Ilyushnikova on the results of the national project to support SMEs, prospects for the next six years and changes for the self-employed

On April 29, experts reported on the growth of the number of SMEs in the Russian Federation to 6.7 million. This is a record figure since the start of the special register of SMEs in 2016. Today, small and medium-sized businesses are actively involved in the implementation of resource- and knowledge-intensive projects, including the development and creation of unmanned aerial vehicles, the implementation of space programs, and the production of products as part of import substitution.