MONOGORODA.RF will be able to issue loans under guarantees of the Guarantee Fund of Tatarstan

The Single-industry Towns Development Fund has expanded the list of types of collateral for soft loans up to 250 million rubles for SMEs. The Guarantee Fund of the Republic of Tatarstan can also act as a guarantor for loans for entrepreneurs of the republic.

Also, in addition to the guarantee of the Guarantee Fund, entrepreneurs of the republic can use guarantees of the SME Corporation, VEB.RF and credit organizations accredited by the SME Corporation as security for the fulfillment of obligations on loans from MONOGORODA.RF in the amount of 5 to 250 million rubles.

It should be noted that in the first half of 2020, Tatarstan entrepreneurs attracted more than 3 billion rubles of loans with support of the Guarantee Fund of the Republic of Tatarstan. For 6 months of 2020, the Guarantee Fund of Tatarstan issued 153 guarantees in the amount of 803 million rubles, which allowed republican entrepreneurs to attract 3.3 billion rubles of borrowed funds.

For loans from the MONOGORODA.RF Fund from 250 million to 1 billion rubles standard types of collateral are retained at 5% per annum. It is also allowed to use the surety of a holding (parent) company that has an international/Russian investment/credit rating that meets the requirements of the Fund as the only security for a loan.