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VTB starts work on a new program of concessional financing for small and medium-sized businesses - EastRussia | Far East

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VTB started work on a new program of concessional financing of small and medium businesses

VTB Bank joined the updated program of the Ministry of Economic Development of Russia, aimed at financing small and medium-sized businesses at a reduced rate.

According to the press service of VTB, the program was approved by a resolution of the Russian government and provides for issuing loans to small and medium-sized businesses at a rate of no more than 8,5% per annum in 2019 – 2024, followed by the provision of subsidies to credit organizations from the federal budget.

“We see a high demand for business loans using various concessional financing mechanisms. As part of the programs implemented with the Ministry of Economic Development of the Russian Federation, VTB's loan portfolio increased by 2018 in the year by 3,5 and amounted to about 25 billion rubles. I am sure that with the start of the new program, even more small and medium-sized businesses will receive our support, ”said Denis Bortnikov, Deputy President and Chairman of the Board of VTB Bank.

Preferential loans to replenish working capital are provided for up to three years, for investment purposes - up to ten years. Enterprises of various industries can take advantage of the offer: agriculture, manufacturing, construction, transport, information and communications, tourism, health care, education.