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Business Duty Officer

And again about supporting small and medium-sized businesses

And again about supporting small and medium-sized businesses

14 September 2021 The Government of the Russian Federation announced a new financial instrument to support entrepreneurs. This time we are talking about the “umbrella” mechanism for providing guarantees.

Почему про этот механизм стоит знать?

  • актуален для бизнеса, которому ранее кредит был недоступен (for example, из-за отсутствия имущества для залога)
  • доступен для получения в короткие сроки: to receive money, it is enough to visit the office of the partner bank of the program once, where the guarantee will be issued
  • is profitable, since the commission for the guarantee is paid by the partner bank, not an entrepreneur

How does it work?

The meaning of the "umbrella" guarantee is , that the Federal Corporation for the Development of Small and Medium-Sized Businesses (далее — Корпорация МСП) undertakes to the creditor bank of the entrepreneur to be responsible for the fulfillment of his monetary obligation. The guarantee will provide up to 50% of the loan amount. In simple words, The corporation will take a part of the risks of the business on themselves and provide up to 50% of the loan money, which business, for example, couldn't provide by itself.

How to understand, that this service is available to you? In the rules of interaction of banks with the Corporation in. 4.1. criteria for SMBs are listed:

  • registration in the register of SMBs
  • lack of reorganization process (except for joining up), elimination, bankruptcy proceedings, suspension of activities
  • absence of outstanding overdue payments on monetary obligations to the bank and some others

Participants of the pilot project, which will last until the end of 2021 y, are the Otkritie Bank, PSB, RNCB, Sberbank, VTB and SME Bank. If the pilot project is successful, The Russian government expects to provide assistance to at least 35 thousand SMEs for a total amount of about 600 billion rubles up to 2024 y.

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