Cheap loans for entrepreneurs will be available in Bashkortostan

Bashkortostan Government amended the procedure for selection of small and medium-sized businesses for granting loans at the lowest interest rate. Due to these amendments, the region plans to increase the activity of loans granting to small and medium-sized businesses. The corresponding decree was signed by the Government RB on March 13.

As it is reported on the website of the government, a procedure for the submitting documents for this type of government support is simplified. If earlier businessmen should go through preliminary approval at the Ministry of Economic Development of Bashkortostan for these loans, now they can apply directly to the banks.

In addition, lending purposes are expanded at the minimum interest rate and limitation period of 30 days of submitting documents for such loan is cancelled. The maximum term of the loan is increased from 3 to 5 years.