UralSib Bank Offers Loans of Up to 10 Years Under SME Corporation Guarantees
Russia's 'umbrella guarantee' scheme fuels 1.3 trillion rubles in SME loans
Loans are available to businesses with annual revenue of up to 2 billion rubles for working capital, investment purposes, and refinancing loans from other banks.
The program allows companies with insufficient or no collateral to secure financing. The SME Corporation acts as guarantor, covering up to 50% of the loan obligations. The "umbrella guarantee" mechanism eliminates the need for borrowers to apply directly to the SME Corporation—UralSib Bank handles all interactions, including payment of the guarantee fee. The maximum interest rate is capped under the program.
The umbrella guarantee system was launched on the instruction of the President of Russia and is implemented as part of the national project "An Efficient and Competitive Economy." According to the SME Corporation, since its introduction in 2021, nearly 92,000 entrepreneurs have received around 1.3 trillion rubles in loan financing through this mechanism. Over 60% of this funding has gone to small and medium-sized enterprises in non-retail sectors, including manufacturing, infrastructure construction, logistics, agriculture, scientific and technical activities, IT, and tourism.
For more details on loans under the umbrella guarantee program, visit the official website of UralSib Bank PJSC.
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