Banks in the Republic of Tatarstan are accepting applications from businesses under the program of lending to priority industries

A new preferential loan product is available to small and medium-sized businesses in Tatarstan, which allows them to receive funds for investment purposes at 3-4.5%. Banks are already accepting applications and issuing loans at a reduced rate.

Recall that 18 banks represented in the Republic of Tatarstan participate in the program of lending to priority industries.

Loans for investment purposes are provided to small and medium-sized enterprises from the sphere of manufacturing, agricultural processing, logistics and hotel business. The rates for medium-sized businesses will be 3%, for small and micro businesses - 4.5%. Grace period of crediting is up to 3 years. Loan amount: from 50 million to 1 billion rubles.

It was possible to set interest rates below the key one thanks to the combination of interest rate subsidies within the framework of the national project for the development of small and medium-sized businesses (1764 program) and concessional funding under the Lending Stimulation Program (LSP), which is implemented jointly by the Bank of Russia and the SME Corporation.

As part of the pilot implementation, by the end of 2022, the volume of the new program will amount to up to 50 billion rubles. It will be operated by the SME Corporation. She will help entrepreneurs to structure projects and applications, and will also advise them in preparing documents and on other issues. In early September, the service will start working on the MSP.RF Digital Platform.

The list of OKVED and detailed information about the program can be found here.