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SME “umbrella” guarantees will help clothing manufacturers receive up to 50 million rubles

Date: June 16, 2024 Time: 02:45:38

Small and medium-sized light industry companies are one of the drivers of import substitution

Photo: Sergey CHERNYKH.

At the current St. Petersburg International Economic Forum, the SME corporation announced that it had allocated funds for special “general” guarantees, according to which companies will be able to receive a total of 10 billion rubles. We are talking about loans for small and medium-sized businesses in the light industry. This measure allows the borrower to obtain funds from the bank, even if he or she does not have sufficient collateral to secure the financing. One of the characteristics of the mechanism is the possibility of obtaining a deferral of the payment of the main debt.

— Small and medium-sized light industry companies are one of the drivers of import substitution. They were among the first to react to the departure of Western manufacturers from our market. To support these companies and boost their development, the SME has assigned them a special limit of “general guarantees”, which provides for a security of 50% and a loss rate of 6%. Thanks to this mechanism, textile and clothing manufacturers, as well as SMEs in the design sector, will be able to attract up to 50 million rubles with the possibility of deferring the payment of the loan principal for at least three months from the date of date of issuance of funds, said Alexander Isaevich, General Director of the SME Corporation.

The press service of the Federal Corporation for the Development of Small and Medium Enterprises clarified that to receive “general” guarantees, a company must belong to one or more main industries (types of activity). We are talking about classes 13 “Textile production” and 14 “Clothing production” of section C “Manufacturing industries” of OKVED. Groups 74.10 “Specialized activities in the field of design” of Section M “Professional, scientific and technical activities” may also have a support measure.

Isaevich noted that currently in Russia there are about 34,000 registered small and medium-sized companies that produce clothing. Additionally, one in four entered the market this year or last year.

“We take on part of the responsibility of entrepreneurs, allowing them to receive profitable financing instead of turning to banks for expensive consumer loans to invest in their businesses,” added the general director of the SME corporation.

Thanks to general guarantees, Russian SMEs have already attracted more than 60,000 people. loans totaling almost 700 billion rubles. One in three companies would not be able to obtain financing without the use of this government support instrument.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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