Krasnodar, 2 October – Yug Times. Oksana Kovalenko, Director of the regional Microfinancing Foundation, speaks about the support of promising startups.
Q.: The regional Microfinancing Foundation turned five years this year. What are the results of its activity over these years?
A.: The Microfinancing Foundation was organised as a tool to support small and middle businesses. Its main has always been to assist the business. Since it was organised, the Foundation has supported more than 1,000 small and midsize businesses, and issued 1,588 loans for the total amount of more than 1.9 billion roubles. Overviewing the results of the five-year period of activity, I can state that the Foundation has been successfully fulfilling its objectives.
Q.: What is the difference between the Microfinancing Foundation and such commoner financial institutions as banks, where businesspeople can also get a loan?
A.: In comparison with the banks, we offer unique terms. Currently our maximum interest rate is 7% per annum. Besides, we do not have any additional commissions or insurances, which means no additional expenses for the borrowers.
Q.: What kinds of loans do you offer?
A.: Presently we have 12 programs, compiled to embrace most kinds of economic activities. An entrepreneur may get a loan from 100,000 to 3,000,000 roubles for a period of 3 months to 3 years. Also, we can offer a deferment for a period of up to 12 months.
Q.: Do you finance start-ups?
A.: No middle or big business can appear from thin air. The regional Microfinancing Foundation has developed a mechanism that motivates the development of small and midsize businesses from a scratch. What is meant is the Start program, whose aim is to support the entrepreneurs at the beginning stage.
Q.: How much are you financed from the budget?
A.: The total amount of money given by the federal and regional budgets exceeds a billion roubles. Our current credit portfolio amounts to 850 million roubles.
Q.: Do you prioritise any certain programs, or do you distribute the money evenly among all your products?
A.: Our high-priority target audience is the most vulnerable category of small and midsize businesses - beginning entrepreneurs.
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