RT Ministry of economy will support entrepreneurs with subsidies for repayment of loans

The new program will free entrepreneurs from the interest burden on loans. Applications acceptance starts on October 3, 2019.

The Ministry of economy of the Republic of Tatarstan has launched a new program to support small and medium-sized businesses. This measure involves the provision of subsidies to entrepreneurs to pay interest on loans issued by Russian banks. The maximum amount of subsidy per recipient is 10 million rubles per year.

The uniqueness of the program is the full reimbursement of costs associated with the payment of interest on loans – that is, 100% interest rate subsidy. The entrepreneurs who received the subsidy will have to pay only the "body" of the loan.

Minister of economy of the Republic of Tatarstan Farid Abdulganiev noted: "We are interested in as many entrepreneurs as possible to develop their business in our region, thereby increasing the business climate and stimulating the development of related areas. Entrepreneurship is one of the foundations of the economy, which is why we actively support private business at the start. In particular, the new program for subsidizing credit payments is aimed at this."

Subsidies can be received by representatives of small and medium-sized businesses, management companies and residents of industrial parks and sites, export-oriented companies and SMEs whose production sites are located on the territory of the regime object.

Under the terms of the Program, reimbursement is possible under the loan agreement, which was concluded not earlier than January 1, 2017 and for a period of more than 1 year. The amount of the contract must be at least 2.5 million rubles, and the interest on the loan may not exceed the weighted average interest rate calculated by the Central Bank of the Russian Federation for the last 3 years – 14.13%.

The allowed loan purposes are: replenishment of working capital, acquisition of fixed assets, construction (reconstruction) of engineering infrastructure, industrial buildings, structures, facilities, implementation of investment projects.

Deadline for documents submission is subordinated to Ministry of economy of Tatarstan the Center of support programmes for the development of small and average business RT at: Moskovskaya str., 55 room 521, tel.: 8 (843) 236-29-96. Information about the conditions of the Program and the documents required for application are available on the website of the Ministry of economy.       

You can apply for a subsidy starting from October 3, 2019, working hours: Mon. – Tue. from 9:00 to 18:00, Fri. – from 9:00 to 16:45 (break from 12:00 to 12: 45), closed on Saturdays and Sundays.