Sberbank will increase its loan to SMEs in 2019, which was announced at the Eastern Economic Forum “SMEs as a driving force for economic growth”.

Anatoliy Popov, the head of corporate investment operations, points out that the average interest rate on Sberbank SME loans is less than 10%. In 2019, Sberbank's loan growth to SMEs will be about twice the overall growth of bank loans. 

Last year, Sberbank increased their loans to SMEs by 20% - this is about 1.5 trillion rubles, which is already slightly higher, with a growth rate of 20%. This year they also expect SME loan growth to be twice the average.

Sberbank and the Far East Development Foundation will allocate 2.7 billion rubles to expand loans to SMEs. The “Affordable Credit for SMEs” program aims to increase loans for SMEs. The program approved a total of 814 loans worth 12 billion rubles, and the total number of financing SME projects was 18.3 billion rubles. With the implementation of the program, the loan term has been increased from 5 years to 10 years. The tax rate has dropped from 14.5% per year to 10%. Investment loans can be obtained from 8.5%.

The Far East Development Fund is a national development agency that provides a flexible approach to project structure and financing. The fund invests in creating new businesses and infrastructure that have a socio-economic impact on regional economic development, implements programs that support SMEs, and develops digital services for investors. With more and more entrepreneurs’ information, banks can offer loans to them at a more competitive price.