Microloans for 365 million rubles were given to small and medium-sized businesses of Tatarstan in the first half of 2019

Small and medium-sized businesses from 40 districts of the Republic of Tatarstan and the city of Kazan received state support. 

The total amount of funds issued for the first half of the year amounted to 365 million rubles. Loans are provided to entrepreneurs from services, manufacturing, agriculture and trade. Within six months of this year, the portfolio of micro-loans increased by 278% compared to the same period of last year.

Debt microfinance is one of the most popular measures of state support for SMEs and, as noted earlier by the Minister of economy of the Republic Farid Abdulganiev, is particularly in demand among start-ups. To increase its availability this year, the interest rate has been reduced from 8% to 7.5%, and the list of activities has been expanded – now entrepreneurs working in the field of trade can also apply for microloans.

The innovation of 2019 were the programs "Exporter" and "Social entrepreneur" specially developed by the Entrepreneurship support Fund of the Republic of Tatarstan, within which a preferential rate is only 5%. The maximum limit per borrower has been increased to 5 million rubles.