Sberbank has cut rates on some loans for small businesses by 5.5 percentage points at once. The minimum rate is now 11.8%
Small business development is often hampered by obstacles in the way of aspiring entrepreneurs. One of the obstacles is the difficulty in obtaining and repaying a loan. Finally, Sberbank decided to lower interest rates on some loans to entrepreneurs by five and a half points at once.
Downward course
The decrease in the rate will please companies whose annual turnover does not exceed 60 million rubles. It is these representatives of small businesses that are particularly sensitive to financing prices.
For such clients, additional discounts are provided for when applying for lending for business development and loans with collateral. Now the stake is 11.8%. Since October 31, the percentages have already declined.
It was found that the total range of decrease varied from one and a half to five and a half points. The amount of the reduction determines the type of loan product and the conditions for issuing funds.
As a result, lending to small businesses is provided at a minimum percentage of 11.8% for secured loans and 15.5% for unsecured loans. For financial organizations, it is cooperation with small firms that has been and remains a priority.
By lowering rates, entrepreneurs will be able to fully implement projects and receive additional financial opportunities for this. The maximum amount for SMART lending, issued on the basis of intelligent models for analyzing customer information, has been doubled.
The correctness of the decision is confirmed
Thanks to the result of the analysis, a credit institution can form individual proposals, based on the results of which a businessman can receive a loan within just one day.
Pilot projects involve the issuance of loans only to those representatives of small companies that have not acquired existing loans from Sberbank. Before the end of the year, disbursements are planned within the first phase of the project.
Next, the portfolio performance will be monitored. The decision to scale the "pilot" can only be made after analysis. Sberbank's management believes that after them, other banks will also revise lending rates for small businesses.
The significant decline confirms that Sberbank is confident that there is potential for business development for both small and medium-sized businesses. It is this aspect that makes small companies the main beneficiaries of economic recovery from the crisis.
The review has begun in other financial institutions as well. This will generally increase the availability of loans for companies. The rate cut began with the lineup of all consumer loans. The interest on mortgage loans fell behind them. Other financial institutions followed the offer. Among them was also VTB.
