The Guarantee Fund of Tatarstan will support small businesses of the republic in the field of tourism

Regional guarantee organizations (RGS) will help develop the country's tourism industry. The SME Corporation together with the Federal Tourism Agency signed a "road map" for the implementation of new mechanisms to support small and medium-sized entrepreneurship in the tourism sector.

The "road map" includes not only information and marketing support, but financial support as well. In particular, the Guarantee Fund of the Republic of Tatarstan, as part of the RGS system, will be able to provide guarantees of up to 50 million rubles for businesses from the tourism industry.

"A considerable number of small and medium-sized enterprises are concentrated in the tourism industry today. That is why it is important to pay special attention to the expansion of financial assistance measures. They can be used not only by small businesses, but also by the self-employed citizens. Today, the Guarantee Fund of Tatarstan has all the necessary resources to support the business of the republic.  On average, we need only 2-3 days to review the applications," said the Acting Director of the Guarantee Fund of the Republic of Tatarstan Rasim Usmanov.

It should be reminded that in 2020, the Guarantee Fund of the Republic of Tatarstan provided 342 guarantees to small and medium-sized businesses, which is 25% more than in the same period of 2019. The total amount of guarantees provided amounted to 1.7 billion rubles, which allowed us to attract loans for 7.9 billion rubles. Republican entrepreneurs received loan financing with a minimum amount of remuneration from 0.5% to 1% per annum of the guarantee amount.

You can get acquainted with all the measures of financial support for business in the field of tourism in the attached document.