The Guarantee Fund of Tatarstan in the 1st quarter of 2021 helped entrepreneurs of the republic to attract 2.8 billion rubles of borrowed funds under guarantees

In the 1st quarter of 2021, the fund issued 79 guarantees for 345 million rubles, which is 32.3% more than in the same period last year. Small and medium-sized businesses attracted loan-based funding to replenish working capital and purchase technological equipment.

The largest amount of borrowed funds was issued to manufacturing companies. In the first three months of this year, under the guarantee of the Guarantee Fund, they were able to attract 1.3 billion rubles for the development of their business. Thus, one of the Nizhnekamsk factories engaged in the production of products received financial support for 944 million rubles, and the Kazan engineering company — 75 million rubles, which will be used for the repair and construction of roads and overpasses in the Apastovsky and Kaibitsky districts of Tatarstan.

Agricultural producers are also actively credited in the Republic of Tatarstan. For the 1st quarter, 12 companies received loans worth RUB 1.0 billion, and the amount of the guarantee amounted to almost RUB 27 million. The enterprises received funding for spring field work and the purchase of fuel and lubricants.

"Today, enterprises have confidently set a course to restore their business after the restrictions imposed due to the spread of a new coronavirus infection, the volatility of oil prices and the dollar exchange rate. And without sufficient and affordable funding, it is difficult for companies to move forward. Today, the Guarantee Fund issues a guarantee of up to 50 million rubles at the lowest possible percentage of remuneration — 1%", – commented Rustem Mukhamedshin, Director of the Guarantee Fund of the Republic of Tatarstan.