THIS YEAR, THE BUSINESS SECTOR IN MORDOVIA PLANS TO INCREASE THE NUMBER OF PREFERENTIAL MICROLOANS AND GUARANTEES
Since the beginning of last year, subjects of small and medium-sized businesses in the republic have been granted 341 microloans totaling 736.9 million rubles, which exceeds the 2022 figure by 52.5 million rubles. An increase in the number of microloans issued is expected in 2024 as well.
Thanks to the implementation of the national project “Small and Medium-Sized Entrepreneurship and Support for Individual Entrepreneurial Initiative” the number of active microloans for SMEs will exceed five hundred. Additionally, subjects of small and medium-sized entrepreneurship are provided with guarantee support. The amount of guarantees for this year amounted to almost 452 million rubles.
Let's recall that in the second half of March, the Ministry of Economic Development of Russia announced that SMEs received 500 billion rubles in support in 2024 through preferential microloans and guarantees.
In 2023, the volume of financial support for small and medium-sized businesses in the country increased: guarantees-backed loans by 47%, and preferential microloans by 3.4%. Entrepreneurs in Mordovia can obtain guarantees through the regional branch of the Guarantee Fund if they lack sufficient collateral. Additional measures are provided by regional microfinance organizations to support businesses, including existing borrowers facing difficulties in making current payments. This includes deferral of principal repayment, changing payment schedules due to reduced installment amounts on the principal debt. It is noteworthy that last year, 7 entrepreneurs applied for this support measure, and all of them were approved.