Export-oriented entrepreneurs of Tatarstan will receive preferential financial support

The Business Support Fund, subordinate to the Ministry of Economy of the Republic of Tatarstan, has announced the start of accepting applications for a new preferential microfinance product aimed at supporting Tatarstan's exporters. A microloan at a preferential rate of 0.1% per annum will allow entrepreneurs of the republic to find new markets for their products.

The President's Decree on the national development goals of the Russian Federation sets the goal of achieving a gradual increase in real exports of non-primary non-energy goods by 70% from the level of 2020 by 2030. The growth of total exports is also directly affected by the entry of new firms from among small and medium-sized enterprises into foreign markets. And here it is especially important to support this category of entrepreneurs to reduce their costs. 

To this end, "Exporter" microfinance product was launched in Tatarstan. Measures to support the self-employed are implemented within the framework of "Small and Medium-sized Entrepreneurship and Support for individual entrepreneurial Initiative" national project.

According to the terms of the program, the loan from 300 thousand to 5 million rubles for a period of up to 24 months with an interest rate equal to 0.1% to the key rate of the Central Bank of the Russian Federation, established on the date of conclusion of the microloan agreement, can receive Tatarstan exporters who this year procured a consulting service or a service for finding a foreign partner and/or certification of products from the Export Support Center (hereinafter – ESC). In addition, an export-oriented entrepreneur must be registered as a SME and operate in the territory of the Republic of Tatarstan, as well as, with the assistance of the ESC, conclude an export contract in 2021. 

If the above requirements are met, the borrower can get a microloan for any reasonable business purposes under the following conditions:

- the amount of contracts from 1 000 000 US dollars –0.1% per annum;

- the amount of contracts from 500.000 US dollars to 999.000 US dollars – 1% per annum;

- the amount of contracts from 100 000 US dollars to 499 000 US dollars – ½ of the key rate of the Bank of Russia, established on the date of conclusion of the microloan agreement;

- the amount of contracts from 10 000 US dollars to 99 000 US dollars – the key rate of the Bank of Russia, established on the date of conclusion of the microloan agreement. 

Also, to the entrepreneur a deferred payment of the principal debt for up to 6 months is available. At the same time, the Guarantee Fund of the Republic of Tatarstan provides a warranty in the amount of up to 50% of the microloan money.

Applications for a microloan are accepted by the Business Support Fund subordinate to the Ministry of Economy of the Republic of Tatarstan. You can also submit your application online through the FASTTRACK.RF portal or by contacting the "MFC for Business" or the regional representatives of the Entrepreneurship Support Fund, represented in almost all municipalities of the republic. Contact information for regional representatives can be found on the website https://fpprt.ru/ in the My Business Center section.

To get advice on this and other business support measures in force in the republic by phone: 8 (843) 524-90-90.