Business communities, banks and the Central Bank estimated the lending program for small and medium enterprises at a rate of no more than 8.5 % as promising. In their opinion, it is necessary to optimize document requirements and ease restrictions for industries to creates conditions when more entrepreneurs will be able to get easy-term loans.

The Head of the Ministry of Economic Development Maxim Oreshkin noted that the new lending rules will contribute to the growth of loans under the program.

“Now that the subsidy depends on the category of the borrower, banks will be more willing to give easy-term loans to micro and small enterprises. Previously, some small business borrowers were not always able to apply for easy-term loans because of high risk for banks”, the minister said.

In accordance with the program, the mechanism for providing subsidies to banks is also being improved. Previously, they were compensated from 2.5 % to 3.5 % of the rate depending on the size of the subsidy, and now subsidies are increasing – up to 3.5 % for loans to small businesses, as well as medium-sized enterprises from among participants in regional programs for increasing labor productivity and up to 3 % in general for medium-sized businesses.

All these changes are necessary for activating easy-term loans.

Russian banks evaluate the program positively and talk about its relevance in business. Banks expect that after expanding the program for the rental business, small retail trade and restaurants, easy-term loans will be available for thousands of new companies in small and medium-sized businesses.