In 2017 in the framework of the implementation of Strategy for the development of the region's economy, approved by the Government of the Chukotka Autonomous Okrug, NPO Fund for the Development of Economics and Direct Investments of Chukotka Autonomous Okrug obtained the status of a regional guarantee organization. When operating in this direction, the main objective of the Fund is to assist SMEs in obtaining the necessary funding from commercial banks by providing a guarantee on loan agreements and bank guarantee agreements.
Guarantees are issued to SMEs to ensure their credit obligations in case of insufficiency of own collateral. The maximum amount of the guarantee is 5 million for one loan commitment and no more than 7.5 million rubles for one subject of SMEs for several credit transactions. The amount of a guarantee cannot exceed 70% of the amount of the debt obligation over the period of its validity. It is also important to note that the possibility of obtaining a guarantee on the loan or guarantees for entrepreneurs working in the sectors of production, services, retail trade, except for those sell excisable goods. The cost of the guarantee is 0.5% of the contract sum.
On June 27 the Board of the joint stock company "Federal Corporation for development of Small and Medium Enterprises" the decision about the accreditation of the NPO Fund for the Development of Economics and Direct Investments of the Chukotka Autonomous Region This allowed the Fund to conduct transactions on the product of co-insurance. The guarantee is applied simultaneously from Joint-stock company Russian Small and NPO Fund for the Development of Economics and Direct Investments of the Chukotka Autonomous Region. Receipt of guarantees from two sources will increase the chances for the enterprises to obtain the optimal loan amount in the bank and save money in the process of its execution.
"In general, the provision of guarantee will simplify access to credit resources for enterprise entities in the region. Given the volume of small enterprises needs in Chukotka in loans - this is quite a good help. We invite representatives of small and medium enterprises to cooperate. I note that, with the guarantee of the Fund for the Development of Economics and Direct Investments of the Chukotka Autonomous Okrug, it is necessary to apply to a partner bank when applying for a loan. "- said Olga Plotnikova, the Fund's director.
The NPO Fund for the Development of Economics and Direct Investments of the Chukotka Autonomous Region has four partnership agreements on cooperation in the direction of granting guarantees on loans, incl. PJSC Sberbank, Asian-Pacific Bank (JSC), Joint Stock Company "Russian Bank for SME Support" (SME Bank), Joint Stock Company "Russian Agricultural Bank".