The Guarantee Fund of the Republic of Tatarstan simplified the lending process for marketplace sellers

The regional Guarantee Fund, subordinated to the Ministry of Economy of the Republic of Tatarstan, has developed a new guarantee mechanism that reduces the rate and simplifies the procedure for obtaining a loan for sellers of marketplaces.

The Guarantee Fund provides an entrepreneur with a guarantee of up to 2.5 million rubles, with a maximum loan amount of 5 million rubles. An application for a loan is considered in a simplified mode without taking into account the financial statements of the borrower. Providing a loan with the guarantee of the Fund not only increases the percentage of issuance, but also allows you to receive loan financing at a reduced rate.

The express guarantee for marketplace sellers will be tested on the loan product "Factory for Small Business" from Ak Bars Bank. Future plans include scaling up to products of other banks.

“Thanks to the guarantee of the Guarantee Fund for Entrepreneurs, the loan rate is lower by an average of 2 percentage points,” says Director of the Guarantee Fund of the Republic of Tatarstan Rustem Mukhamedshin.

“Last year, the Russian e-commerce market showed tremendous growth. According to preliminary analytics from Data Insight, the number of orders for 2021 is up 90% in quantity and more than 45% in monetary terms compared to a year earlier. E-commerce is not slowing down in 2022 either. Ak Bars Bank strives to expand the pool of financial opportunities for entrepreneurs. We expect that a loan for sellers of marketplaces under the guarantee of the Guarantee Fund of the Republic of Tatarstan will be in high demand,” said Olga Yasonova, head of the corporate business unit of Ak Bars Bank.