Special Military Operation veterans from Mordovia can receive special guarantees for loans to start a business
At the stage of starting or developing their business, veterans of the Special Military Operation can take advantage of a special support program for the SME Corporation. This became possible thanks to the implementation of the national project "Efficient and Competitive Economy".
To attract borrowed bank financing, entrepreneurs will be provided with a joint guarantee of up to 90% by regional guaranteeing organizations and the SME Corporation. The program is already available to everyone.
"To support veterans of the special operation who want to start their own business, the new program combines the warranty capabilities of the SME Corporation and regional warranty organizations. This will allow entrepreneurs to share the risks and enable them to quickly attract the necessary financing in the absence of their own collateral, and banks to become more actively involved in the process of crediting participants of the special operation to start business," - said Maxim Reshetnikov, Minister of Economic Development of Russia.
Under the new program, the SME Corporation will provide guarantees for loans of up to 5 million rubles from state microfinance organizations and bank loans of up to 50 million rubles.
"The SME Corporation gives leverage to regional guaranteeing organizations, thereby reducing the burden on the regions. A special program for veterans of the SVO will provide an opportunity to gain access to debt financing at minimal cost from the entrepreneur. Moreover, we have reduced the Corporation's commission for providing guarantees from 0.75% to 0.5%, while the cost of a bank guarantee starts at 2.5%, which makes debt financing under the new program more affordable," - said Alexander Isaevich, CEO of SME Corporation.
In order to receive special guarantees when applying for a bank loan, the recipient must indicate in the application that he wants to use this support mechanism. The program's partners include more than 50 banks and government microfinance organizations across the country.