Business opportunities in single-industry towns are expanded - Ministry of Economic Development of Bashkortostan

UFA, 3 November 2016. /Bashinform News Agency, Galina Bakhshieva/. The Board of Directors of JSC "Federal Corporation for Small and Medium Enterprises Development" (SME Corporation) took a decision to approve a special warranty product for small and medium-sized enterprises registered in single-industry cities (monocities). It is reported by the press service of the Ministry of Economic Development of Bashkortostan.

SME Corporation is ready to provide a guarantee of up to 75 percent of the loan amount, together with a guarantee of regional guarantee institutions in the amount of not less than 10 percent of the loan amount attracted by an entrepreneur.

As part of the previously concluded agreements on cooperation between the Monocities Development Fund and SME Corporation the latter shall provide guarantees within 50 percent of the loan amount issued by the Fund for investment projects implementation in monocities.

In addition, SME Corporation has decided to lower the minimum threshold under the business lending stimulation program to 10 million rubles.

Increased cooperation between the Fund and the development of SME Corporation will facilitate access to financing for small and medium enterprises. This will strengthen the industrial base of small and medium-sized enterprises, including in monocities.