Sverdlovsk entrepreneurs can receive reduced-rate loans
As many as 200 companies will be able to receive more than $16,000 each year in loans at a reduced interest rate of less than 10 percent for up to three years.
This program, dedicated to helping entrepreneurs who need relatively few financial resources to reach their potential, began last year. The fund, which has allotted more than $1 million for applicants, is part of a regional development institution established in 2002 by the Sverdlovsk regional government to provide financial support for the development of small and medium-sized businesses.
"It is important to understand that the funds allocated for loans are budgetary resources, i.e. taxpayers' money,” fund director Eugene Kopelyan said. “Applicants must be particularly attentive to the filing of the application and read and scrupulously abide by the rules. To help entrepreneurs, free consultations are available that explain the program in detail.”
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