The Russian government has reduced rates under the preferential lending program to 2.5-4% for entrepreneurs

The Government of the Russian Federation has reduced interest rates under the pilot investment lending program to 4% for small and micro enterprises and to 2.5% for medium-sized businesses. The rate cut became possible due to the change in the key rate of the Bank of Russia. Previously, the rates for the preferential investment lending program were 3-4.5%.

The joint investment lending program of the Ministry of Economic Development of the Russian Federation, the Bank of Russia and the SME Corporation was launched on August 25 and is valid for manufacturing enterprises, as well as companies in the field of agriculture, hospitality, transportation and storage.

Loans from 50 million to 1 billion rubles for investment purposes under this program can be received by entrepreneurs in 18 banks, a list of which is published on the website of the Ministry of Economy of the Republic of Tatarstan. Loans at preferential rates are available for up to three years. A special information service operates on the MSP.RF Digital Platform to assist in structuring transactions.

Since the launch of the new concessional lending program under Decree No. 1420 of the Government of the Russian Federation dated August 16, 2022, 52 applications have been submitted in the republic in the amount of more than 5.3 billion rubles. In total, 570 million rubles were issued for five applications.

Preferential loans are implemented within the framework of the national project "Small and medium-sized businesses and support for individual entrepreneurial initiatives."