Crowdlending with government support available for small businesses in Tatarstan

Small businesses in Tatarstan will be able to attract online loans with state support within the framework of B2B crowdlending. A precedent for Russia project "Guarantee flow" was developed by the Guarantee Fund subordinated to the Ministry of economy of the Republic of Tatarstan together with the Internet resource "Flow" and "AK bars" Bank.

Participation in it will allow small businesses to quickly and without collateral attract loans online from legal entitIies at 1.17% per month. At least 50% of each loan will be covered by the support of the Guarantee Fund of the Republic of Tatarstan, which reduces the risks of the Bank as an investor and makes an affordable rate for the entrepreneur.

An electronic signature is required to submit an application. Analysis of solvency of the borrower is carried out by a bank statement. The borrower does not need to collect a bunch of documents, provide collateral and wait for approval for several weeks.

The first investor in the project was a company belonging to the group "AK Bars" Bank. Investments within the period of the pilot project will amount to 150 million rubles. Small businesses will be able to attract loans worth up to 3 million rubles for a period of 6 months. After a successful pilotingnthe project will be expanded — the number of investors will grow. Meanwhile, participation in the project is available only to "AK bars" Bank accounts holders .

It should be reminded that 111 sureties were issued for the previously developed by the Guarantee Fund of the republic preferential credit products within the first half of this year. The amount of the issued sureties is 763 million rubles, and the total amount of funding raised under the surety reaches to 2 billion 708 million rubles. Growth rates increased almost in 2 times in comparison with the same period last year.