The Guarantee Fund of Tatarstan took the second place in Russia in terms of the volume of loans issued against guarantees for the organization of business loans

In the first half of 2020, Tatarstan entrepreneurs received more than 3.3 billion rubles of loans guaranteed by the Guarantee Fund of the Republic of Tatarstan subordinate to the Ministry of Economy. This is the second place in Russia in terms of the volume of loans issued to businesses under the guarantees of a regional guarantee organization.

The results of work for the first half of the year were summed up by “Corporation SME” Joint-Stock Company. It should be noted that the rating did not take into account the indicators of cities of federal significance. The first place in the rating is taken by the Novosibirsk Region, and the third is the Sverdlovsk Region.

In the first 6 months, the Guarantee Fund supported more than 150 entrepreneurs of Tatarstan and helped them get loans for 3.3 billion rubles.

“Bank loans are the circulatory system of business. Entrepreneurship cannot move forward without sufficient and affordable funding. A Guarantee Fund is a conduit between an entrepreneur and a financial institution. And thanks to our work with credit structures, we were able to help a larger number of entrepreneurs and bring the republic to one of the leading regions in the country in terms of the volume of business support provided”, said Timur Temirgaliyev, Director of the Guarantee Fund of the Republic of Tatarstan.

Let us recall that the Guarantee Fund of the Republic of Tatarstan was created in 2012 and is responsible in Tatarstan for the development of a system of guarantees and sureties for obligations of small and medium-sized businesses. Since 2012, the Fund has provided support to 1,578 SMEs for a total amount of about 25 billion rubles.

During the crisis caused by the COVID-19 pandemic, the Ministry of Economy of the Republic of Tatarstan has additionally developed new warranty products “Support” and “Restructuring”. These programs were included in the package of anti-crisis measures approved by the President of the Republic of Tatarstan Rustam Minnikhanov. Within the framework of the “Support” product, the guarantee of the Guarantee Fund is provided without commission for entrepreneurs from the affected industries for the first 6 months.

Another important measure for entrepreneurs was the possibility of restructuring previously received loans. The Guarantee Fund helped the business to restructure loans in the amount of about 1.4 billion rubles, while retaining the guarantee in the structure of loan collateral.