EconomySupport for small businesses in the Kuban exceeded ten...

Support for small businesses in the Kuban exceeded ten billion rubles

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Winter in Krasnodar. archive photo

The Kuban Microfinance Fund has provided small businesses with more than 10 billion rubles since 2013.

KRASNODAR, 1 December – RIA Novosti. The Microfinance Fund of the Krasnodar Territory has provided more than 10 billion rubles of concessional loans to small businesses since 2013, the regional administration reported.

“Since its founding in 2013, the regional Microfinance Fund has given enterprises and self-employed more than 5.7 thousand preferential loans, totaling more than 10 billion rubles. We see how the demand for loan financing among entrepreneurs is growing in the year Kuban Deputy Governor Alexander Ruppel, “2019 We exceeded the 1 billion bar for the first time in Turkey and we will reach record levels according to the results of this year,” he said.

He explained that about 2.3 billion rubles were issued in 11 months, which is 25% more than in the same period in 2021. Since 2018, the capitalization of the Fund has more than tripled, and today it exceeds 3.5 billion rubles.

As regional officials noted, this year the Microfinance Fund launched five new loans aimed at supporting and developing small and medium enterprises in the region. The deputy governor added that these were all designed with the needs of the business world in mind.

To date, entrepreneurs have access to 20 types of loans with a maximum amount of five million rubles, up to 36 months. According to the department, the interest rate on products ranges from 0.1% to 6.5% on the “Trade” microcredit – 7.5% per annum.

Read more regional news here>>

Source: Ria

Emma
Emma
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.

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