Within the framework of the project "Acceleration of small and medium–sized businesses", the SME Development Fund provided financial support to entrepreneurs and self-employed citizens.
In February last year, the line of microloans provided by the Fund was significantly modified.
So, last year new credit products were introduced:
• "Development" - micro-loans for certain industries and projects with the maximum possible in the amount of 5 million rubles, without a stop factor for small and medium-sized businesses with excisable goods;
• "Priority" – for various priority categories of small and medium-sized businesses, target groups such as men and women entrepreneurs;
• "Social entrepreneurship" – micro-loan for social business;
• "Trust" is a new loan product of the Fund for entrepreneurs with a positive credit history in the Fund.
In addition, the existing credit products of the Fund have been adjusted in terms of linking interest rates to the key rate of the Bank of Russia.
On February 24, after a sharp increase in the Bank of Russia's key rate to 20%, the Fund's borrowing rates were promptly limited. To date, the interest rates on the Fund's loans are in the range from 3.75 to 9.75%. This measure allowed entrepreneurs of the region to attract inexpensive borrowed funds in conditions of almost complete suspension of bank lending.
In total, last year the Fund provided 381 micro-loans for a total amount of 638,060 thousand rubles. These include microloans such as:
• a loan to start–up entrepreneurs, in the Murmansk region, 10 promising start-up entrepreneurs received it for a total of 6,800 thousand rubles;
• a micro loan "Standard - working capital" was provided to 200 entrepreneurs for the amount of 343,400 thousand rubles;
• 78 businessmen from priority categories of small and medium-sized businesses in 2022 received loans under the Priority program" in the amount of 73,050 thousand rubles;
• 40 business representatives from certain industries and projects were granted a micro-loan "Development" without a stop factor for excisable goods totaling 153,100 thousand rubles.;
• a new preferential micro-loan "Trust" was received by 25 entrepreneurs with a positive credit history in the Fund, in the amount of 22,250 thousand rubles.
All the planned indicators established by the regional project "Acceleration of small and medium-sized businesses", in terms of microfinance activities, were achieved in 2022 by the regional Fund for the Development of small and medium-sized Businesses, while it can be noted a significant increase in the amount of microloans issued to self-employed citizens and sole proprietors, instead of the planned 1.2 million rubles, to these categories of entrepreneurs, The Fund provided loans totaling 2.77 million rubles
More information about the Fund's activities, as well as about the line of microloans provided, can be found on the website.
/ Ministry of Arctic Development and Economy of the Murmansk Region /