Rural entrepreneurs received over 19 million loan guarantees

The Guarantee Fund, subordinated to the Ministry of Economy of the Republic of Tatarstan, issued guarantees to rural entrepreneurs in the amount of 19.4 million rubles.

Since the beginning of 2019, thanks to the special preferential program “Entrepreneurship in countryside”, rural entrepreneurs have been able to attract loans worth 50.3 million rubles.

Funds allocated within the framework of support may be spent on investments and replenishment of working capital.

“Agriculture is traditionally one of the main drivers of the economic development of Tatarstan. Special attention is paid to development of entrepreneurship in rural areas in Strategy 2030. The program of financial support for rural entrepreneurs launched a year ago proved its necessity and relevance and may be further expanded to take into account the need for stronger support for agriculture this year”,  Farid Abdulganiyev, Minister of Economy, said.

At present, rural entrepreneurs can get several types of financial support in Tatarstan. In addition to guarantees, grant support is available to them, as well as subsidies for reimbursement for purchase of agricultural products.

Guarantees of the Fund are issued on special conditions in the amount of up to 70% of the amount of obligations with the payment of the minimum commission - 0.5% per annum.

It should be noted that all small and medium-sized businesses engaged in rural areas can count on state support.