A new program for financial support of enterpreneurs operating in rural areas has been launched in Tatarstan. A special subsidized product "Entrepreneurship in the countryside" allows entrepreneurs (farm enterprise, individual entrepreneur, agricultural consumer cooperative, including commercial cooperatives and other small and medium-sized enterprises) to receive guarantees of the Fund on special terms and with a commission of 0.5% per annum up to 70% of the amount of liabilities (credit, loan, leasing) of small and medium-sized enterprises operating in rural areas.
The basic conditions of the Program:
- maximum amount of guarantees: 70%;
- purpose of obtaining credit: investment, replenishment of current assets;
- guarantee fee: 0.5% per annum of the guarantee amount for the whole guarantee period;
- own security: at least 30% of the amount of the borrower's liabilities;
- maximum guarantee period: loan term of the financial institution + 120 days.
The product "Entrepreneurship in the countryside" was prepared and implemented by a non-profit organization "Guarantee Fund of the Republic of Tatarstan".
Press service of the Ministry of Economic Development of the Republic of Tatarstan