4 Tatarstan banks will issue loans to small and medium businesses at 8.5% per annum

Four Tatarstan banks at once entered the new federal rate subsidizing program. Now they can all issue loans to small and medium businesses at 8.5% per annum. The remaining lost interest is compensated by the state.

Any entrepreneur working in priority sectors can apply for a preferential loan. If funds are needed for investment activities, the size of the loan can range from 3 million to 1 billion rubles for a period of up to 10 years. If entrepreneurs need replenishment of working capital, then it is possible to attract at a preferential rate from 3 to 100 million rubles for a period of up to three years.

Applications can be submitted to 4 Tatarstan banks: Ak Bars Bank, Energobank, Bank Kazani and Kama Commercial Bank and several federal or foreign banks operating in Tatarstan.

For convenience, entrepreneurs can apply to the Unified Credit Center under the Guarantee Fund. Specialists will help to collect documents, fill out an application and send it to the bank. At the same time, the Fund can act as a guarantor when granting a loan.

Applications for financial support for this program are accepted until November 30. This year it is planned that small and medium business of Tatarstan will attract up to 36 billion rubles.

Press Service of the Ministry of Economy of the Republic of Tatarstan