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Otkritie Bank was one of the first to enter the program of state support for SMEs

Otkritie Bank was one of the first to enter the program of state support for SMEs
Photo: pixabay.com

A new mechanism for providing guarantees for small and medium-sized businesses was developed by the Russian government in cooperation with the SME Corporation. Now partner banks will independently form their portfolios of loans to small and medium-sized businesses, secured by the guarantee of the SME Corporation. The new program will simplify and speed up the process of obtaining loans for entrepreneurs.

According to the press service of Otkritie Bank, guarantees of the SME Corporation will provide up to half of the loan amount, and for clients working in priority sectors of the economy - up to 85%. The borrower will be able to receive support both for a micro-loan of up to 10 million rubles, and to attract a large loan - the amount of the Corporation's guarantee can reach one billion rubles. The task of the new mechanism will be to increase financial accessibility for a wide range of entrepreneurs.

 Otkritie Bank plans to launch the program in mid-September - from the start of the pilot at the SME Corporation. Loans will be provided at a rate of 8,5% per annum. At the same time, the guarantee of the SME Corporation will be free of charge for the bank's borrowers.

As Nadia Cherkasova, deputy president and chairman of the board of Otkritie Bank, noted, the umbrella surety for entrepreneurs will become an important measure of guaranteed financial support. The new mechanism will expand access to financing and accelerate the receipt of loans. Alexander Isaevich, General Director of the SME Corporation, also added that this mechanism will also allow banks to reduce risks for each SME borrower and expand the circle of recipients of financial support. By 2024, entrepreneurs will be able to additionally attract more than 600 billion rubles with the help of the new product.

 

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