The Guarantee Fund of the Republic of Tatarstan has increased the volume of loans attracted by Tatarstan entrepreneurs by 5 times

Since the beginning of the year, up to February 16, 2021, the Guarantee Fund under the jurisdiction of the Ministry of Economy of the Republic of Tatarstan has almost doubled its indicators for the number of guarantees issued. Since January, the Fund has issued 43 guarantees for a total of 128.8 million rubles. By the way, for the same period in 2020, the non-profit organization issued 22 guarantees for the amount of 85.6 million rubles.

A five-fold increase in indicators was also recorded in the volume of loans attracted by small and medium-sized businesses in Tatarstan. This amount amounted to 1,341.1 million rubles, which is 477% more than for this period in 2020. Then this figure was – 280.9 million rubles.

The largest number of loans, under surety of the Guarantee Fund of the Republic of Tatarstan, were received by enterprises of the production sector. They attracted funding for the purchase of equipment and replenishment of circulating assets. Enterprises from the sphere of trade and services and the agro-industrial complex actively used the measures of financial support. Now, agricultural producers attracted 1.017.6 million rubles for seasonal field work. Loans were required for the purchase of fertilizers, seeds and fuel.

"For the first time in the entire activity of the Guarantee Fund, we note a significant increase in both the volume of loans attracted and the number of guarantees issued. We attribute this to the fact that business is gradually beginning to recover from the restrictions imposed last year due to the coronavirus pandemic.  Many areas were affected then. Therefore, it is important to pay special attention to the expansion of financial assistance measures.  Today, we support not only SME, but also the self-employed," said the Acting Director of the Guarantee Fund of the Republic of Tatarstan Rasim Usmanov.

Worth reminding, that the object of activity of the Fund is to provide guarantees for the obligations of subjects of small and medium enterprises, self-employed and of the organizations forming infrastructure of support of subjects of small and medium enterprises, with the conclusion of the Fund's of its stable financial position, but lacking mortgage security for the loan.