Tatarstan entrepreneurs have attracted 7.2 billion rubles of loans under guarantees of the Guarantee Fund of the Republic of Tatarstan subordinate to the Ministry of Economy since the beginning of this year.
To date, the Guarantee Fund of Tatarstan has issued more than 300 guarantees in the amount of 1.5 billion rubles, which allowed republican entrepreneurs to receive debt financing with a minimum amount of remuneration from 0.5% to 1% per annum of the guarantee amount.
Let us recall that the scope of the Fund's activities is the provision of guarantees for the obligations of small and medium-sized businesses and organizations that form the infrastructure for supporting small and medium-sized businesses that, according to the conclusion of the Fund's partners, have a stable financial position, but do not have sufficient collateral to receive a loan.
The Fund signed cooperation agreements with 43 banks, 4 leasing companies, 1 microfinance organization, the non-profit organization Investment and Venture Fund of the Republic of Tatarstan, the Industrial Development Fund and the Single-Industry Towns Development Fund. (a detailed list of the Fund's partners on the website www.garfodrt.ru).
In addition, the Guarantee Fund of the Republic of Tatarstan acts as a guarantee for a number of republican microfinance programs, in particular, the “Self-employed” microloan - the Fund provides guarantees in the amount of up to 50% of the microloan amount at 0.5% per annum.
If we talk about financing purposes, then more often entrepreneurs turn to the Fund for a guarantee to replenish working capital, investment activities, refinancing, execution of contracts, and restructuring of existing loans.