"Umbrella" guarantees for business in the Leningrad Region
The guarantor of the obligations of entrepreneurs is the Leningrad Regional Guarantee Fund for Small and Medium Business
The maximum amount of one loan guarantee is 25 million rubles
The Leningrad Regional Guarantee Fund for Small and Medium Business (the Fund) is ready to provide guarantees to entrepreneurs in the Leningrad Region on loans taken to replenish working capital, purchase equipment, and develop production and services.
The Fund was created in 1998. During this time, more than 1.5 thousand guarantees were provided to entrepreneurs, the total amount of loans that were issued under their security exceeded 5 billion rubles.
Guarantees can be provided to small and medium-sized businesses registered in the Leningrad Region. The maximum amount of one loan guarantee is 25 million rubles.
For existing Fund clients, the maximum amount of guarantees has been increased from 20 to 25 million rubles. Also, the maximum amount of guarantees for various business areas has been established:
- for companies whose activities are related to the procurement of goods and the provision of services for public and municipal needs, the maximum amount of guarantees is 90 percent of the loan amount (but not more than 25 million rubles)
- for companies whose activities are related to the implementation of innovative projects - 80 percent (but not more than 25 million rubles)
- for companies operating in the field of social entrepreneurship - 80 percent (but not more than 25 million rubles)
- for other borrowers - 70 percent (but not more than 25 million rubles)
The term of the guarantee is 1 year, it can be extended by applying to the Fund.
To obtain a guarantee, an entrepreneur needs to submit an application and a package of documents to the Fund. If the application is approved, the entrepreneur will be charged a fee of 1.25-2.00% of the amount guaranteed. The cost of the guarantee depends on the term of the loan, the amount of the guarantee, the type and size of the borrower's collateral.
The Fund's guarantees are in demand among Leningrad businesses. 352 guarantees were provided in 2021, the total amount of loans secured by these guarantees amounted to RUB 1.2 billion.
“The Fund's guarantees provide our region's entrepreneurs with the opportunity to attract borrowed funds on favorable terms. This support is especially relevant now, in the conditions of overcoming the consequences of the pandemic. The governor of the Leningrad Region Alexander Drozdenko instructed to expand the support measures, so we increased the maximum amount of guarantees, which will allow entrepreneurs to take more funds for business development,” said Denis Belyaev, General Director of the Leningrad Regional Guarantee Fund for Small and Medium Business.
