Support for Small and Medium Business
SME FINANCIAL SUPPORT PROGRAM
Since 2007, subsidiary SME Bank (Russian Development Bank - until 2011) has been the agent of Vnesheconombank in implementing a program of supporting small and medium-sized enterprises. Through a network of regional partner banks and infrastructure organizations (leasing, factoring companies, microfinance institutions and others) it extends loans and other forms of support to small and medium-sized enterprises in all Russia’s regions. Credits are extended for a tenure of up to 7 years and in the amount of up to 150 million rubles. An average weighted rate with regard to the portfolio of credits extended by partner banks under SME Bank’s program is 12.6%.
As an institution responsible for developing small and medium-sized enterprises in Russia SME Bank focuses on the needs of those small and medium-sized enterprises which market institutions are not capable of meeting now to the full.
Providing support for small and medium-sized enterprises SME Bank focuses above all on non-trade enterprises, institutions that are introducing innovations as well as implementing projects designed to boost energy efficiency. The Bank gives top priority to socially significant projects as well as projects as part of cluster development of regions and territories.
The Bank carries out research to evaluate the potential and the development level of SMEs in various regions, identifies product niches and lines of further work in order to provide targeted more efficient support for SME in individual regions. An analytic center responsible for studying the state of the SME sector in Russia has been operating at the Bank since 2011.