Translation. Region: Russian Federal
Source: Central Bank of Russia –
Last year, microfinance organizations (MFOs) increased business lending by almost a quarter, counted Bank of Russia. At the end of the year, 75 thousand small and medium-sized companies and entrepreneurs were clients of microfinance organizations.
In terms of the volume of loans issued, commercial MFIs were ahead of state-owned ones for the first time: they provided entrepreneurs with more than 73 billion rubles – 54% more than in 2023. The growth driver was the digitalization of their services: more than 90% of loans were issued by commercial MFIs remotely. The main clients were small companies and entrepreneurs from the trade sector, including marketplace suppliers.
State MFIs financed enterprises operating in the construction, transport, goods manufacturing, agriculture, and often regional businesses. Among them were projects participating in the import substitution program. The average interest rate on loans from state MFIs, thanks to state support, was 7% per annum; for commercial ones, it was higher — 46% per annum.
The State Duma is considering draft law, which proposes to increase the amount of microloans for businesses from the current 5 million to 15 million rubles. This will help expand access for small and medium-sized companies to borrowed funds. Such loans will allow entrepreneurs to finance larger and more capital-intensive projects.
Preview photo: Best pixels / Shutterstock / Fotodom
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