SME Bank increased the rate on preferential programs for IT companies more than three times
IT companies are asking to cancel the change in the terms of preferential lending. After the key rate increased, SME Bank increased the rate on preferential programs for technology organizations by more than three times. Thus, from October 15, the rates will increase from 3% to 10%; it is specified that if there is a lack of funding, the rate may rise to the market rate. Leading technology companies sent a letter to the Ministry of Digital Development, asking for assistance in returning preferential conditions.
One of the authors of the letter, executive director of the Association of Computer and Information Technology Enterprises (APKIT) Nikolai Komlev, is sure that this threatens small businesses with bankruptcy: “We see a one-sided increase in the rate of more than three times only with a small warning. The letter from SME Bank clarifies that if additional financing from the state does not appear, the rate may be market rate. This is probably already over 20%.
1.5 thousand companies have planned their business: to develop artificial intelligence technologies, medical systems, tourism, financial and economic programs. Small business starts very quickly, well and interestingly. They rented an office using this loan, hired staff, and entered into an agreement. Small businesses do not have a safety net; they often rely entirely on one project. Some of them may somehow get out, but if nothing changes, the rest will go bankrupt.
In our letter to the Ministry of Digital Development, we propose to find some kind of soft way out of this situation, so that there is no growth from 3% to 20%, but some kind of gradual, phased way out. Or introduce higher interest rates for new companies. A reasonable compromise can always be found; the budget that exists can simply be scheduled more efficiently and predictably.”
According to Vedomosti, the program “Takeoff - from startup to IPO” started in the spring of 2022. The lending budget included 4 billion rubles, approximately half of these funds were allocated for 2024. It is noted that the increase in the rate on preferential loans will apply not only to new, but also to existing contracts.
At the same time, all changes must be reflected in the contract, reminds the head of the Businessdrome agency, Pavel Samiev: “The conditions under existing contracts cannot be changed unilaterally. There are floating rates or some flexible conditions that can change based on how some covenants change. That is, the same key rate can affect the loan rate, but this is stipulated in the contract. There may be restructuring, changes that are agreed upon by the parties, that is, the bank and the borrower, or accepted upon the occurrence of certain events, in which case the rate, conditions, and terms may change. But this is again included in the contract.
There are programs that are still working. These are the "PSK" and "1764" programs - loans for investment purposes for companies in priority industries. Not all industries can use them, but a fairly wide range can. mainly manufacturing, technology companies. The rates, of course, are higher there and depend on what the current key rate is; the calculation is quite complex. The program will be reformed, will change starting next year, in the future there will be less strict binding, and there will probably be more acceptable conditions for small businesses.”
A rate of 3% was provided for loans for high-tech, innovative small and medium-sized businesses. According to Forbes, one of the conditions for obtaining such a loan was the sustainable development of the company for three years.
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