More than 300 entrepreneurs of the Sverdlovsk region have attracted financing for business development with the help of "umbrella" guarantees of the SME Corporation, the press service of the Development Institute reported.

The new support tool was launched in September last year. The volume of loans granted by accredited banks amounted to more than 2.97 billion rubles.

"To get a loan under one of the programs in case of insufficient collateral, you can use an umbrella guarantee. In this case, the SME Corporation will assume up to 50% of the risk, and when combined with the guarantee of the Sverdlovsk Regional Entrepreneurship Support Fund, the coverage on credit obligations can be up to 90% – for beginners and young entrepreneurs and up to 70% – for everyone else," said the Deputy Director of the SME Corporation in Yekaterinburg.

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Author: Ekaterina Ivanova
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