Tatarstan has maintained preferential rates on loans for business after the Central Bank's key rate increase

Against the background of the increase in the key rate of the Central Bank of the Russian Federation to 15% in October of this year in Tatarstan, it was decided to keep the rates on microloans for business. As part of the programs implemented under the national project "Small and medium-sized entrepreneurship", the maximum rate is up to 5.5% per annum. 

This was announced by the First Deputy Minister of Economy of the Republic of Tatarstan – Director of the Department of Entrepreneurship Development Natalia Kondratova, speaking at a press conference at the Tatar-Inform news agency dedicated to the implementation of the national project "Small and Medium-sized Entrepreneurship". 

The decision is dictated by increasing the availability of concessional financing for business development. 

Financial programs within the framework of the national project "Small and Medium-sized Entrepreneurship" are implemented by the Entrepreneurship Support Fund subordinate to the Ministry of Economy of the Republic of Tatarstan. Currently, there are 8 preferential microfinance products for entrepreneurs of the republic, designed for different categories and the degree of maturity of the business. Depending on the category of borrowers, the rates on microloans range from 0.1% to 5.5%.

The maximum amount of a microloan for small and medium-sized businesses is 5 million rubles. For individuals applying the professional income tax, the limit is 500 thousand rubles. The maximum term for granting microloans is three years.

In addition, in the absence or shortage of their own collateral, representatives of small and medium-sized businesses of Tatarstan can apply to the Guarantee Fund of the Republic of Tatarstan, which has various guarantee products in its arsenal for: farms, technical and industrial parks, exporters, entrepreneurs in the field of online commerce and others.