The results of one of the first preferential government lending programs for SMEs "674", under which loans were issued in 2017-2019, have been summarized.

Small and medium-sized businesses could take out loans from banks at preferential rates of up to 1 billion rubles for current and (or) investment purposes. In the first half of 2024, the last loan under this program will be repaid at the Russian Agricultural Bank.

"The program started even before the launch of the national SME project. Nevertheless, the state fulfilled all obligations to SMEs by subsidizing interest rates for the entire term of the loan, which contributed to the development of business confidence in the state. A small number of companies – about 500 enterprises – became recipients of support, but the program allowed us to work out the mechanism for implementing preferential credit programs. With the launch of the national SME project from 2020 to 2023, we have already issued more than 133 thousand loans under banking programs. At the same time, we have built tools more specifically and focused on priority sectors," said Tatyana Ilyushnikova, Deputy Minister of Economic Development of the Russian Federation.

One third of all loans issued under the ending program fell on manufacturing enterprises, 15% – on agricultural companies and the rest – on enterprises of the real sector of the economy and construction.

As part of the program, small and medium-sized businesses have attracted over 41.2 billion rubles to launch investment projects, modernize capital construction facilities, finance production activities, pay salaries to employees, cover utility costs, pay for freight forwarding services, and rent payments.

Sberbank of Russia, VTB Bank (PJSC) and Rosselkhoznadzor became the leaders of lending. The program was implemented in 68 regions of Russia. The regions with the largest number of entrepreneurs covered by the support included the Chelyabinsk Region, the Republic of Bashkortostan, the Volgograd and Moscow regions, and the Krasnodar Territory.

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Support for entrepreneurs in the region is carried out within the framework of the national project "Small and medium-sized entrepreneurship and support for individual entrepreneurial initiative", which was initiated by the President and overseen by First Deputy Prime Minister Andrei Belousov.