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What to do if you need money to grow your business? – ExpertRU

Additional financing is especially important for entrepreneurs in conditions of economic instability. And here the financial support measures that provide small and medium-sized businesses help.

More information about what types of financial assistance are available and how to use them, was told in the State Budgetary Institution “Small Business of Moscow” (MBM), subordinated to the Moscow Department of Entrepreneurship and Innovative Development.

Concessional lending

To help entrepreneurs, the Moscow Government has developed several programs of concessional lending. Their diversity will allow each entrepreneur to find a suitable program, depending on the purpose of the loan and the field of activity. And thanks to low interest rates, it will be easier for entrepreneurs to continue to develop and contribute to the city’s economy, as well as save jobs. We will tell you more about such opportunities for representatives of small and medium-sized businesses.

Up to 50 million rubles can be received by metropolitan entrepreneurs to replenish working capital, investment purposes and refinancing previously received loans. The maximum final interest rate on loans for SMEs is 8.75% per annum, which is half the key rate of the Central Bank of the Russian Federation, increased by 5 percentage points. The program is available to representatives of small or medium-sized businesses registered in Moscow and working in almost any industry, with a few exceptions, for example, except for microfinance, gambling and lotteries.

In addition, metropolitan entrepreneurs can get loans online at preferential rates. The maximum final interest rate is 8.75% per annum, which is half the key rate of the Central Bank, increased by 5 percentage points. Program participants can apply for a loan of up to 5 million rubles remotely within a few days. This requires a minimum set of documents. To date, more than 7,000 loans have been issued under concessional lending programs for a total amount of more than 63 billion rubles.

In addition, participants in the Moscow Innovation Cluster who carry out research and development, or work in the field of industrial production and information technology, can receive a loan of up to 300 million rubles for investment purposes. In early August, the loan rate was further reduced after the start of the program and amounted to only 3% per annum. This preferential program is organized jointly with SME Corporation JSC.

Entrepreneurs working under a factoring agreement can also receive financial support at a reduced rate. At the same time, in order to receive this support, it does not matter in which area the entrepreneur works. The final rate for the borrower is 9.75%, which is half the key rate of the Central Bank, increased by 6 percentage points. The program is designed for suppliers and distributors selling products on a deferred payment basis.

The city pays special attention to start-up entrepreneurs – those who especially need financial resources. Only within the framework of the capital program concessional lending small and medium-sized enterprises registered no more than a year ago can attract financing at a preferential rate from 0 to 9.8%, depending on the chosen bank. The loan is issued for up to three years. The maximum amount is 5 million rubles.

Most of Moscow’s concessional lending programs will be valid until December 31, 2022. Do not miss the opportunity to receive additional financing on preferential terms!

In addition, entrepreneurs can take advantage of federal programs of concessional lending. Among them are the programs of working and investment lending, the program for the purchase of priority products for imports, launched recently new federal program concessional lending by the Ministry of Economic Development of the Russian Federation and SME Corporation JSC, under which up to 1 billion rubles are available for investment purposes and project financing.

Guarantees for loans and other financial transactions

Entrepreneurs often face a shortage of their own collateral when obtaining a loan or a loan, as well as when receiving a bank guarantee, letter of credit or when concluding leasing and factoring agreements. The Moscow Small Business Lending Assistance Fund helps solve this problem by providing a guarantee to secure these financial transactions. The Fund issues a guarantee in the amount of up to 100 million rubles in a single transaction, and the guarantee coverage can reach 70% of the amount of financing. To obtain a guarantee, you must leave a request on the website mbm.mos.ru using the corresponding online service.

How else can MBM help?

In addition, the MBM regularly hosts events that help entrepreneurs learn more about financial support and how to get it, as well as highlight the topic of financial management in detail. In 2022, about 30 training events on these topics have already been held, which were attended by almost 1,000 participants. For a detailed schedule of business events, please see on the website mbm.mos.ru in the “Education” section.

Still have questions about financial support? Ask them to MBM specialists in business service centers located in different districts of Moscow by phone +7 (495) 225-14-14 or by leaving a request for online consultation on the mbm.mos.ru portal.

And to learn more about financial support and take advantage of all the privileges of Moscow entrepreneurs, go to the website mbm.mos.ru and register in your account! A special service will help you figure out what financial support is right for your business. “Interactive Assistant”.

Mbm.mos.ru is a portal for interaction between business and government. MBM helps people open and boldly develop their business in Moscow. In business service centers, everyone can learn about property, educational and financial measures of state support and freely use them.

The following programs are available for entrepreneurs: MBM Startup School, Upgrade Your Business Together with Mentors, Networking Marathon, Online Accelerator, there are also thematic meetings and events for open communication and exchange of experience, blurring the boundaries between business and government.

You can get advice on opening and running a business in the capital, as well as learn more about current measures to support entrepreneurs in the capital, at mbm.mos.ru.

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