RT Entrepreneurship Support Fund reduces borrowing rates for businesses and the self-employed

The Business Support Fund (BSF), subordinated to the Ministry of Economy of the Republic of Tatarstan, has reduced the rates for all applications for attracting concessional financing, sent from June 1 inclusive, under the "Reset" and "Self-Employed" programs to the key rate of the Central Bank of the Russian Federation (5%).

Previously, the maximum rate for products was 6%. Financial support for businesses and the self-employed is provided within the framework of the national project "Small and Medium-sized Entrepreneurship and Support for Individual Entrepreneurial Initiative".

It is worth noting that the micro-loan "Reset" is still one of the most popular financial programs in Tatarstan.

Microfinancing is designed for the widest possible range of business representatives; it is possible to  get a microloan for any costs justified by borrowers for entrepreneurial purposes. The preferential microfinance product provides for the possibility of obtaining a loan in the amount of 300 thousand to 5 million rubles for a period of up to 2 years. The loan is available to all categories of SME engaged in the real sector of the economy.

The creation of favorable conditions for self-employed citizens to carry out activities is also provided for in the national SME project. For these purposes, the BSF of the Republic of Tatarstan issues microloans under the "Self-employed" program.

The microloan is designed for individuals who are not individual entrepreneurs and apply a special tax regime – "Self-employment tax". At the same time, the borrower must be registered as self-employed for at least 6 months and choose Tatarstan the territory of doing business, the age of the borrower at the time of repayment of the loan should not exceed 65 years.

For citizens who meet the requirements of the program, up to 500 thousand rubles are available for a period of 3 to 24 months for any expenses justified by the borrowers, necessary for the implementation of activities, the income from which is subject to the "Self-employment tax".

Applications for attracting concessional financing are accepted by the subordinate Business Support Fund of the Republic of Tatarstan. In addition, the Fund provides assistance in the formation of a package of documents necessary for obtaining a microloan.