The MAYOR proposes to temporarily support the banks in issuing loans to small businesses

© RIA Novosti / Ramil to Setdiscoverable in photobacteria of economic development in Moscow. Archival photoThe MAYOR proposes to temporarily support the banks in issuing loans to small businesses© RIA Novosti / Ramil to Setdiscoverable the image Bank

The Ministry of economic development of Russia proposes to temporarily support the large banks in lending to small and medium enterprises (SMEs), said Deputy Minister Oleg Fomichev.

He spoke about the preferential lending program for small and medium business «Six and a half» which fixes the interest rate for loans in the amount of not less 5 million roubles for small enterprises at the level to 10.6%, for medium — to 9.6%.

«The banks providing financing to entrepreneurs in this program have the opportunity of refinancing of the Central Bank at a rate of 6.5% per annum, so the program is called «Six and a half». More than 30 new regional banks Corporation for the programme, already accredited. Now the Corporation limits divides between large and small banks in half,» — said Fomichev.

According to him, in the second half of the year if the Central Bank decides to increase the limit on the program by 50 billion rubles, almost the whole limit will be placed in regional banks. «On the part of large banks, we will go in the direction of increasing the terms on which loans are issued and ensure their investment in nature», — said Fomichev.

He also said that the Ministry has prepared a draft resolution on the analog program «a Six-and-a-half» with the support of the government, not the Central Bank. According to Fomicheva, the big banks will compensate the difference between the 6.5% and the key rate of the Central Bank, so they quickly issued a «canopy non-granting of credits».

«Thus, we now provide support for concessional lending to small business up to the moment, the Central Bank will decide on the extension and allocation of additional limits in the program. This decision may be somewhere in the middle of the summer, according to our optimistic estimates,» said the Deputy Minister.

He also stated that the program planned before the end of the year, it allocated about 300 million rubles. According to Fomicheva, this amount subsidizes the difference between the 6.5% key interest rate, which now stands at 9.25 percent. As noted by the Deputy MAYOR, the program with preferential rates is forced and the lower interest rates in the market it will «slowly turn».

«But rates are already falling. Recently, they decreased by almost half. Before they reached 30% now, according to the Bank, around 14%. The difference between the rates at 9.6%, 10.6% and 14% is not catastrophic, so that by the end of this year or by the middle of next rates could level off,» said the Deputy Minister.

Thus, according to him, this does not mean that the government and Corporation of small and average business stop credit guarantee support to small businesses. «After all, the primary tool for which the Corporation was created, the guarantees and guarantees for small business loans. This work will certainly continue,» — said Fomichev.

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