Industrial Development Fund (IDF) simplified the terms of its programs to expand the range of medium-sized business loan recipients. Now the borrowers of IDF will be able to spend up to 100% of the loan for the purchase of equipment, and loans for the creation of machine tool production will no longer be tied to the industry limit. In addition, the upper limit of the loan for the main program of IDF is increased from 300 to 500 million rubles.
Appropriate decisions were approved by the Supervisory Board of IDF, the standard Development Projects was updated and the limit for financing under the program Creation of Serial Production of Machine Tool Products was canceled. The new standards abolish the restriction on the amount that the applicant can spend on the acquisition of equipment (previously it should not be more than 80% of the loan amount).
"Practice has shown that the bulk of the funds from IDF loans go to purchase production equipment. Most applicants need low-cost loans for equipment, and they are ready to take other costs. The value of 80% limited the range of potential borrowers," said the Director of IDF Aleksey Komissarov. Now the companies will be able to spend the full amount of the loan for the purchase of modern equipment, which corresponds to the main profile of industrial projects and the main task of the IDF - the creation of new modern production facilities in Russia.
Also, in 2016 IDF raised the maximum loan amount from 300 to 500 million rubles. The real needs of medium-sized industrial companies in most cases exceed 300 million rubles, as a result of which the fund increased the limit. Regional industrial development funds are created to co-finance relatively small projects throughout the country. In addition, the Supervisory Board of IDF canceled the financing limit for the program Creation of Serial Production of Machine Tool Products. When the program was launched in March 2016, the limit for this program was 1.3 billion rubles. However, the real need of the Russian industrial machine tool business turned out to be much higher. The volume of approved loans for it only in 2016 amounted to 3.6 billion rubles. Now the volume of loans for the most advantageous for the borrowers "program of machine replacement" is limited only by the total capital of IDF.
Since 2015, IDF has co-financed 133 industrial projects in 44 regions of Russia with a total loan amount of 34.8 billion rubles. Realization of projects will allow to attract 108.2 billion rubles to the real sector of the economy (in addition to loans from IDF) and create more than 12.8 thousand jobs. The total cost of implementing projects exceeds 143 billion rubles.
Source: Industrial Development Fund.
