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Mathematics from the Foundation: minus five and ten
The FRDF starts supporting small and medium-sized businesses in the Far Eastern Federal District. Far Eastern banks will receive low-cost funding to give out loans to companies at a reduced rate. Entrepreneurs are happy, but note that happiness is not in rates
The Development Fund for the Far East (FRDV) is entering a new segment for itself. As part of the approved program “Accessible Credit for SMEs”, he begins to provide banks in the Far Eastern Federal District with targeted financing at 5% per annum. At the expense of such profitable funding, banks will be able to reduce the interest rate on loans for small and medium businesses on 4-5% relative to average market indicators, and also, what is even more interesting, is to extend the terms of issuing loans to 10 years. The pilot project of the FRDV starts with Sberbank, but soon promises to connect seven more banks to the program. The EastRussia browser understood how profitable this program would be for Far Eastern small and medium businesses.
What is the point?
The support of small and medium-sized businesses is one of the new directions in the activities of the FRDF, which has so far been supporting large investment projects and attracting investors in a "manual" mode, as explained by the head of the PR department of the FRDF Ilya StupinThis program was developed by the Fund together with leading Russian banks. Credits will be available to companies that belong to SMEs in accordance with 209-FZ and are registered in the DFO regions, without industry restrictions (except for the oil and gas industry, the production of alcohol, tobacco and gambling). “The program does not create an additional administrative burden on the business and is implemented in the“ one window ”format,” the FRDV representative also notes.
Loans will be given through the Far Eastern branches of partner banks - applications, according to the Fund, have already been received from 8 banks and by 12 billion rubles. From what - in the FRF do not say, offering to wait for the signing of official agreements. The first has already been signed - in the framework of the second Eastern Economic Forum, with Sberbank. The choice of the main bank of the country is not accidental - he has the most developed branch network in the Far East. As part of the program, the FRDF will provide Sberbank with targeted financing of 1,5 billion rubles at 5% per annum. Taking into account the bank's funds, the total amount of credit resources available to the business within the pilot will be up to 3 billion rubles.
"The Far Eastern Development Fund works quite creatively. Do not just wait for them to bring projects, and create products themselves, "- said on the launch of the program" Affordable Loans for SMEs "Deputy Prime Minister, presidential envoy to the Far Eastern Federal District Yuri Trutnev. And in Minvostokazvitiya of Russia it was calculated that only by preliminary estimates the implementation of the entire program (up to 10 billion rubles) will ensure an increase in the GRP of the regions of the Far East by 27 billion rubles, create additional tax revenues of 7,6 billion rubles and about 1,3 thousand new jobs.
On closer examination, it becomes clear that the running program is not too unique. "The authorship of the FRG is, of course, very conditional. This is an obvious clone of the so-called "6,5 program", which is already about a year old Implements At the federal level, MSP Corporation Alexander Braverman. True, the last final bet goes slightly lower - 11-12%. This program is noticeable on the federal scale, it brings real benefits. There is a hope that its Far Eastern reincarnation will also be successful, "the deputy editor-in-chief of the Expert magazine, a well-known financial and banking analyst, said in a commentary to IA EastRussia Alexander Ivanter.
Other experts interviewed pointed out the similarity with the “6,5 program”. So according to Denis Grosya, The executive director of the industrial park "Avangard" (Khabarovsk), lending within the federal project is very in demand in the regions. According to him, only over Khabarovsk Krai, according to the "6,5 program", more than 1 billion rubles have been issued. SME Corporation issues such loans only to companies from certain areas (agriculture / provision of services in this field, processing industry, including food production, primary and subsequent processing of agricultural products, production and distribution of electricity, gas and water, Construction, transport and communications, domestic tourism and high-tech projects). The amount of the loan varies from 50 million to 1 billion rubles (the total credit limit for the borrower is up to 4 billion rubles). 12 banks participate in the program, while they are credited as investment targets (purchase of fixed assets, modernization and reconstruction of production, launch of new projects), and financing of current expenses related to the implementation of the investment project (not more than 30% of the aggregate investment loans) and even A trivial replenishment of working capital.
The first question is how much the rates will differ when businessmen contact the FEDV or the SME Corporation. “Now in the federal program due to the cost of funding for banks at 6,5%, the final rate is 9-10%. What will happen in the Far East, taking into account the 5% funding cost that the FRDV will offer? Banks will issue at 9% or at 13%? The optimal rate for such a cost of funding is 9-10%, although this is strange - all over the world the margin of banks is 3-4%, and only here we always have more. But even if the Far Eastern business can take loans at 12-13% per annum, it will already be cheaper than on the market. And taking into account the terms of crediting, which can be up to 10 years, an interesting product can really be obtained for new projects, including in industry, and not only for replenishment of working capital, "notes the Vice President of the Association of Regional Banks of Russia, member of the NAPKA Council and the banking commission of the Russian Union of Industrialists and Entrepreneurs, Ph.D. and editor-in-chief Finversia.ruIan Art.
According to Denis Grosy, within the framework of the 6,5 program, the Corporation's partner bank gives loans at 10,5-11% at the exit. “But there the reduced interest rate is valid for only three years ... FEDV through Sberbank now offers a loan for 10 years and at a rate of minus 5% of the bank rate, which is not bad. If Sberbank now has 15-17%, the output will be 10-12%. This is normal, "the head of the Avangard industrial park is sure. Taking into account the cost of funding, the exit lending rates, according to Ilya Stupin, will amount to 12,5-13,5%. “But at the same time, the crediting period is up to 10 years. Taking into account the long terms of crediting, the burden on payments is minimal, "Stupin emphasizes.
The Far Eastern Bank of Sberbank of the Russian Federation answered us: the maximum interest rate for loans under the FRF program will be no more than 12,5% for loans for up to three years and no more than 13,5% for loans for investment purposes for up to 10 years. “Such interest rates will be issued for investment projects to improve and expand the business - buying real estate, vehicles, equipment, or simply repairing a warehouse, as well as working loans - when you need to purchase additional goods for the season or pay for operating expenses. The longest loans, up to 10 years, are investment loans. The circulating loans are issued for up to three years, ”the bank's press service explained. At the same time, within the framework of cooperation with the SME Corporation, concessional lending is provided at 10,6% per annum for small businesses and 9,6% for the medium segment. Thus, loans under the FRDV program will still cost companies more.
At the same time, in the Far Eastern Bank of Sberbank of Russia recognized - at the moment the ideal rates for SMEs are in the range of 10-12% per annum. "The size of the rate to a greater extent determines the value of the funds that are attracted for the loan. Also, the risk is influenced by the risks that the Bank takes on when lending projects to its customers ... Participation in the FRDF program will allow Sberbank to increase the availability of loans for small and medium-sized businesses in the Far Eastern Federal District - by reducing the cost of loans and extending the lending terms. The main instrument is co-financing at a preferential rate of 5% by the Sberbank Fund with a cap on the maximum interest rate for loans to small and medium-sized entrepreneurs. "
The share of lending to SMEs in the portfolio of the Far Eastern Bank of Sberbank today is 16,7%, or 19,4 billion rubles. The increase in the bank's placed funds since the beginning of the year amounted to about 6%. Today, the Far Eastern business, according to the SB of Sberbank of the Russian Federation, can receive a loan within the framework of the "credit factory": within three working days the amount of up to 5 million rubles with a minimum package of documents and without collateral. Here the minimum rate is 19,5%. Within the framework of the Credit Conveyor program - at a rate of 11,5% per annum for amounts from 15 million rubles. For the purchase of equipment made in Belarus, a loan can be obtained at 7% per annum. “Sberbank has formed a policy aimed at supporting priority industries. One of them is agriculture. Thus, the bank provides loans for seasonal field work (purchase of mineral fertilizers, fuels and lubricants, spare parts, etc.) on the security of the future harvest. Here, too, a low interest rate due to subsidies. Loan terms up to 18 months. You can do more, but then on bail. For agricultural producers, the bank has more favorable lending terms in terms of the terms of providing standard loans and a reduced share of equity participation in products secured by the acquired property. "
Synchronously and together
According to Jan Art, "the current traditional loan conditions (rate - 20% per annum and a period of one year) - are interesting, of course, only to traders. After all, the average profitability of business in Russia is 15%, which normal entrepreneur, especially from among the production workers, will use such expensive and short-term loans? " In his opinion, FRDF creates a local product for the needs of a particular region. "I think a few dozen projects with the help of these loans can start. And, most importantly, this should be of interest to production workers, "the analyst stresses.
But in the FRDV they say that in the near future financial support under the new program will be able to receive up to 1 thousand medium and small enterprises in the Far Eastern Federal District. "The launch of the SME lending program is an important milestone in the activities of the FRDF. The implementation of the project will make it possible to reduce the cost of lending to entrepreneurs and launch relatively small projects that are important for the development of the Far East in various sectors, "the press service of the Ministry of Regional Development of the Russian Federation said.
"In conditions of low population density, sparsely populated areas, cities and towns, self-employment and small business are of great importance not only for the economy, but also for the development of the sphere of social services and ensuring the quality of life. In this vein, we propose to consider the need to stimulate the development of the SME segment in the Far East, "the deputy presidential envoy to the Far Eastern Federal District Vladimir Solodov... “For a long time, small and medium-sized businesses in the Far Eastern Federal District developed mainly in trade and services. That is, in industries that do not require capital investment. We are confident that the introduction of new mechanisms, combined with benefits and preferences, which the state is already offering to entrepreneurs in the Far East within the priority development territories and the Free Port, will significantly increase the contribution of small, but often fast-growing companies to the development of the regional economy, ”said General Director of the FRDV Alexey Chekunkov.
Hope Chekunkova clear. Today, companies from the SME sector can use other development tools launched in the Far East: TORs, free ports and other investment oases. Already, about a third of the residents of all TORs are small and medium businesses.
FRDV, having thoroughly tackled the SME segment, is going to work both on its own and in tandem with the same SME Corporation. At the second EEF, the head of the Fund, Alexei Chekunkov, signed a corresponding agreement with Alexander Braverman. According to the latter, "the Far Eastern Federal District today has a high development potential in the field of small and medium-sized businesses, which we plan to develop in cooperation with the Fund for the Development of the Far East and the Baikal Region." “The parties have determined the basic principles of interaction with the comprehensive financial support of small and medium-sized businesses in the Far East, applying for funding from the FRDV funds. The liabilities of such companies to the fund can be secured by an independent guarantee of the SME Corporation. Today, many entrepreneurs applying for concessional financing of the FRDV are often unable to provide the necessary collateral to guarantee the repayment of funds and the fulfillment of obligations. Guarantee support from the SME Corporation will open a significant number of companies access to long-term concessional financing, ”the Fund said in a press release. According to the SME Corporation itself, the volume of the current portfolio of issued guarantees and sureties throughout the country has already exceeded 43 billion rubles. What is the share of the Far Eastern Federal District is not known.
This direction is extremely important and interesting, considering the special role of large companies with state participation in the economy of the Far East. The SME Corporation is actively fighting for the access of SMEs to the purchases of such giants. According to the data that Alexander Braverman announced at the WEF, the total volume of direct purchases planned by the largest customers from SMEs across the country is already 646,1 billion rubles. And the total volume of contracts concluded by the largest customers for the period from January to July 2016 exceeded 650 billion rubles. By the end of the year, according to Braverman's forecasts, this figure will reach 1 trillion rubles. “A new segment of the market with a volume of 99 thousand positions has been created, there has been a steady trend towards the transition of small and medium-sized businesses from the service sector to the segment of the production of high-tech innovative products,” said Braverman. He also explained that "by creating a large segment of demand, we must respond to large companies with an adequate supply." “Not always a small business can give an exact answer to a large customer in terms of terms and quality. Therefore, it is necessary to support SMEs financially, "- this, according to Braverman, is the logic of the same" 6,5 program ".
Not at the rate of happiness
Local entrepreneurs, in an interview with IA EastRussia, noted that the final rate is not the main plus of the FRDV program. “If there is a market and marginality, then business, in principle, does not care (although, of course, the loan is good, for which they will also pay extra). Now the most difficult thing is to get a loan. Especially for development projects - so much has to be pledged, including your kidney and your relative, providing the bank with an almost 99,9% guarantee of return, which makes it easier not to take anything at all, ”says, for example, Denis Gros.
According to Alexander Ivanter, the success and effectiveness of the new product from the FRDF will depend heavily on the professionalism of partner banks (the federal program was pioneered by VTB, he recalls). And the president of the Far Eastern Guild of Realtors, an entrepreneur from Primorye Vladimir Kaplinsky, adds that the program will inevitably face two difficulties: “Situational - bureaucracy on the part of banks, a subjective approach and exactingness in issuing a loan. And strategic is the attitude of the authorities to development in general: bureaucracy, checks, punishments, infrastructure, the lack of a clear and understandable development strategy, etc. ” In his opinion, “hence the low activity of the local business community towards development. Much very dependent on local government and their relationship. A bunch of: Authorities - Financial institutions - Business, if there is a gap somewhere, then problems will be everywhere. If they are at the beginning of the chain, then you should not expect excellent results at the end, ”Kaplinsky complains.
But he is also optimistic: “In general, and in general, this is a good idea, SMEs have a real opportunity to get a loan on better terms than before. The main thing is to prepare and submit documents. Of course, an even lower rate would be more pleasant for SMEs, but this step is already progress! ”
"The willingness of SMEs to attract loans is largely determined not by the interest rate, but by the market position and the ability to successfully promote their product or service," said IA EastRussia Вmycheslav Andryushkin, Deputy chairman of the board of the Asia-Pacific Bank (the share of SMEs in ATB's loan portfolio is 50%). He notes that for the SME segment in the Far East everyone is beating, and therefore "rates for the last two years have significantly decreased and are approaching the level of 2012-2013." "ATB has increased the loan portfolio from the beginning of the year by five billion rubles. Even in times of crisis, we find options that allow lending to entrepreneurs. Particularly in demand medium-term loans for two to three years to develop business with partial collateral, as well as loans up to seven years for investment purposes. The lending rates are individual and depend on a large number of factors, including the financial condition of the borrower, the availability of a positive credit history in ATB, collateral, and so on. "
If only credited
“Now we need to do something in principle. An outbreak of interest from the state and Asian investors form a new upward trend, which is just silly not to be included. And the fact that the FRED creates a product specifically for a particular region is wonderful, ”says Denis Grosy.
True, the lending itself this year is declining. According to the Bank of Russia, on 1 of August of the current year, 18 credit organizations were registered in the FEFD - this is 2,7% of all that is in Russia (for comparison: in Moscow and the Moscow region - more than 50% of all banks). The Far East has the highest concentration of assets in the banking sector: total 1 assets in August exceeded 490 billion rubles, but most of them are concentrated in the Amur region (327 billion rubles), while in the Magadan region, in Chukotka and in the Jewish Autonomous Region simply did not have.
The volume of loans issued by Far Eastern banks exceeded 1 billion rubles on August 334, but the main share again falls on the Amur Region - almost 228 billion rubles (there are no loans at all in Kolyma, Chukotka and in the JAR, simply because there are no local banks). The delay exceeds 8 billion, with half in Primorye. However, these figures are not entirely indicative. In the DFO, 67 branches of banks from other regions work, their share (relative to banks and their branches within the district) exceeds 300% (in the metropolitan agglomeration the same indicator is 21%). Obviously, the lion’s share of loans, including SMEs, is issued through branches of federal banks. But in the statistics of the Bank of Russia this regional profile is not reflected. Nevertheless, given the weakness of the local banking market, it is obvious that the FRDV will mostly grant preferential loans to the Far Eastern business through federal banks, and not through local ones.