The State Duma passed a bill in the second reading to increase microloans for business to 3 million rubles

The State Duma passed a bill in the second reading to increase microloans for business to 3 million rubles

During the session of the lower house of parliament deputies passed a government bill in the second reading to increase the maximum amount of the microloans up to 3 million rubles for legal entities and individual entrepreneurs.


Earlier, Deputy Finance Minister Alexey Moiseev noted that the bill will expand access of SME to finance.


Now the maximum microloan for small and medium businesses and individual entrepreneurs is 1 million rubles.


It should be reminded that microfinancing of small businesses in the region is implemented due to the Fund of Microloans, founded by the Administration of Altai Krai in 2009. For the time of the Fund’s work small businesses of the region received 3250 loans amounting to 1.5 billion rubles.


Representative offices of the Fund are in 14 areas of the region, allowing obtaining credit support in the place of business. In 2014 Altai Fund of Microloans confirmed the effectiveness of microfinance institution in accordance with the standards of Ministry of Economic Development of Russia. According to accepted standards the regional fund has shown the quality of the loan portfolio, the efficiency of personnel and business processes.


The Fund capitalization is currently more than 370 million rubles. Microloans up to 1 million rubles are granted to businessmen on repayable and remuneration basis.


This year, the Fund continued to provide loan funds to small businesses on favorable terms, which were identified at the initiative of the Governor of the Krai Alexander Karlin. Thus, the annual rate for microloans is 8.5% and the loan maturity is up to 36 months for entrepreneurs, who raise borrowed funds for the purchase of equipment and the implementation of investment projects.


By the Department of Altai Krai for the development of entrepreneurship and market infrastructure


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© 2016 Altai Krai Administration.
Altai Krai Chief Administrative Department of Economics and Investments
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