Banks discover an alternate means for lending: credit substitutes identified.
Let's Talk Biz: Yakking 'Bout Loans and Entrepreneurship
Sick of those sky-high interest rates? Well, buckle up, buddy, because the business loan scene in Sverdlovsk, Russia might just be the rollercoaster ride you didn't know you needed!
On April 24, 2025, a gang of bankin' bigwigs got together to chat about loans, trends, issues, and solutions at the Sverdlovsk Regional Fund's roundtable hoedown. These cats included representatives from the likes of Rosselkhozbank, Absolut Bank, UBRiR, Sberbank, VTB, and SORPP.
Trade and services sector companies, with their speedy cash in, cash out, were singled out as the new sovereign borrowers. But fear not, there were a bunch of programs for preferential lending, and other ways to get that cashflow, available for a broader range of entrepreneurs. The experts spilled the beans on which programs are already up and running, and which ones are on the way.
Tatiana Shilova, from Rosselkhozbank, kicked things off by reminiscing about how far agriculture had come (think: empty store shelves replaced with cans of sardines in the 90s). All agricultural producers are currently hot for loans, according to Tatiana, with Rosselkhozbank dishing out a cool 87 billion rubles in ag loans over the past five years, and no signs of them slowing down.
In the world of government support, things aren't exactly a banquet, but there are some tasty morsels available within the 10% limit. Take, for example, the Ministry of Tourism program, issuing loans in regions like Krasnodar Krai and Altai. And let's not forget about the MSP support program No1764, with an interest rate of minus 3.5% of the key rate. If that "key" trend goes south, it'll be a cheaper-than-cheap financing option.
Valentina Zhiltsova, VTB's maven, shared that their bank currently serves around 35,000 entrepreneurs, the majority of whom prefer self-funding or waiting on capital-intensive projects. But don't worry, they've got some cool programs like investment programs and working capital loans still running the show.
Tatyana and Valentina aren't alone in their optimism. Ekaterina Bogatova, Absolut Bank's siren, chimed in that, despite the high interest, not everyone needs credit resources. She suggested that businesses might be able to replace credit with tools like guarantees and factoring services. In other words, it's not all doom and gloom.
With an annual growth of 120-130%, things are looking pretty peachy in the business loan world of Sverdlovsk. So, if you're an entrepreneur with a hankering for some cold, hard cash, now might just be the time to ride this wave!
- I'm not sure if I should rely on government support alone, as it only offers tasty morsels within a 10% limit.
- I'm considering importing goods from regions like Krasnodar Krai or Altai, but I'm unsure if I can secure a loan from the Ministry of Tourism program.
- In Sverdlovsk, business is booming, with an annual growth of 120-130%, making it an appealing location for lending and investing.
- stagessverdlovsk lending business finance investing not sure preferential self-funding capital-intensive projects programs working capital loans rates key interests Entrepreneurship Ministry Tourism Altai Krasnodar Krai.
