“Preferential Leasing” program for entrepreneurs is launched

“Preferential leasing” special program has been developed for the purpose of implementation of support measures to entrepreneurs - bank customers (PJSC “TATFONDBANK”, PJSC “INTECBANK” and JSC “ANCOR BANK”) banking licenses thereof have been revoked by the Russian Federation Central Bank Orders.

Within the framework of this program, it is planned to provide financial leases (leasing) for any type of property for up to 5 years at 8% per annum (effective interest rate) without initial advance payment and with partial compensation of lease payments.

Lease agreements are concluded with any industry classification legal entities and without registration time limit.

Two lease granting procedures are provided under preferential leasing program: standard leasing and leaseback.

Within the framework of standard leasing, purchase of any fixed assets (including used assets) is financed with compensation of lease payments within one fifth of the leasing agreement total term, but not more than cash balance amount (or unsettled payments) in earlier mentioned banks.

Leasing item is any property related to fixed assets and with value up to 10 million rubles.

The program also provides for the possibility of cash financing using leaseback mechanism.

In this case, leasing payments percentage is compensated during the entire term of leasing agreement, but not more than cash balance amount (or unsettled payments) in banks with revoked license.

Leasing agreement amount shall not exceed tenfold of the amount frozen on the applicant's bans accounts.

Program total budget is 580 million rubles, including 80 million rubles for payment of leasing repayments part compensation.

In order to reduce debt burden it is envisaged adjournment of leasing payments for 2 months or property delivery period for all leasing agreements.

The preferential leasing program will be implemented through LLC “Leasing Company of Small Business of the Republic of Tatarstan”.

Detailed information on the preferential leasing program of is available in:

• Entrepreneurship Support Center of the Republic of Tatarstan at the following address: Kazan, Moscovskaya str., 55, entrance 2, tel. ”hotline” (843) 524-90-90, or
• Leasing Company of Small Business of the Republic of Tatarstan at the following address: Kazan, Petersburgskaya str., 50, and Gavrilova str., 1, telephone (843) 570-5-444.