Development of the small business lending market. Main trends and prospects. Reunova L.V. Trends in the development of the lending market for small and medium-sized businesses in the Republic of Adygea Rebranding and positioning the group in the Russian market as an

The modern Russian economy has inherited from the previous formation high concentration production. Small enterprises appeared in Russia only in the late 1980s. in the form of cooperatives. As is known, cooperatives acted on the principles of voluntariness and accessibility of membership, democratic management, and collective distribution of income. Cooperation developed as a complex system, functioning with the support of the state, ensuring its freedom. economic activity and certain property benefits. For example, in 1990, for the use of a short-term loan, cooperatives paid 1% per annum to state specialized banks, for attracting a long-term loan - 0.75%, for storage Money banks accrued 0.5% per annum to cooperatives.

Economic conditions of that time contributed to the rapid increase in the number of cooperatives. If at the beginning of 1989 there were 77.5 thousand of them in the country, then by January 1, 1990 - already 193 thousand, i.e. almost 2.5 times more. The number of people employed in cooperatives increased by 3.5 times over that period. In 1988, the proceeds from the sale of products, works and services of cooperatives amounted to about 7 billion rubles, its share in the gross national product did not exceed 1%. In 1989, the revenues of cooperatives increased by almost 6 times, reaching 40 billion rubles, and its share in the gross national product was 4.4%. Subsequently, the cooperative form of management of small businesses was changed.

In its more than 20-year history, the IB has achieved certain results: in 2008, there were over 1.3 million small businesses employing more than 10.5 million people. Their turnover amounted to about 18.7 trillion rubles, or 26% of the total gross income of Russian enterprises. However, the share of MB is insufficient to implement the economic goals of state policy: the formation competitive environment in the economy, diversifying Russian production, providing employment and developing self-employment of the population, increasing the share of taxes paid by small and medium-sized businesses in the tax revenues of the federal budget, the budgets of subjects Russian Federation and local budgets.

A survey of the owners of MB enterprises by the Federal State Statistics Service (hereinafter - Rosstat) shows that among the factors limiting its development in Russia, the most important are the lack of own financial resources, high interest on loans and a complex mechanism for obtaining. Also during the crisis of 2008-2009. the uncertainty of the economic situation in the country was named (Table 1.10).

Table 1.10

The structure of factors limiting the development of small enterprises (in % of the number of respondents)*

Indicator
Insufficient demand for products
Lack of own financial resources
High interest on a loan
Complex mechanism for obtaining a loan
Investment risks
Unsatisfactory state of the technical base
Low profitability of investment in fixed assets
Uncertainty of the economic situation in the country
Imperfect regulatory framework governing investment processes

* The structure of factors exceeds 100%, since survey participants had the right to identify several factors.

The further development of the small business largely depends on the creation of relevant market institutions in the country, the development of government programs, the infrastructure to support small and medium-sized businesses, the availability of bank loans to small businesses, the level of interest rates on loans, the loan term and the complexity of the procedure for obtaining a loan. According to experts, at present, the need of MB enterprises in lending is satisfied by no more than 20%. It is practically impossible to get a so-called start-up loan for business development for a newly created and not yet proven in the SE market.

In Russia, for a long time, market institutions were not formed to ensure the development of the small business. Under institutions in modern theory understand the rules of the game in society or the restrictive framework created by man that organizes relations between people, as well as the system of measures that ensure their implementation. They create a structure of incentives for interaction by organizing everyday life, reduce the uncertainty.

There are formal and informal institutions. Formal refers to the rules created and maintained by authorized bodies. Informal institutions are usually understood as generally accepted conventions and ethical standards people's behavior. The absence of relevant institutions was manifested, in particular, in the fact that the concepts of small and medium-sized businesses, their infrastructure, types and forms of support for small businesses were not legally defined. Commercial banks independently, based on the structure of borrowers and the volume of their activities, determined which enterprises should be classified as small and which as medium-sized businesses. Often the company under consideration big bank as small, for a small bank it was medium or large.

The lack of uniform criteria limited the application of federal and regional programs to support small and medium-sized businesses. Only with the adoption of the Federal Law "On the development of small and medium-sized businesses in the Russian Federation" and the Decree of the Government of the Russian Federation dated July 22, 2008 No. 556 "On the marginal values of revenue from the sale of goods (works, services) for each category of small and medium-sized businesses "(hereinafter - resolution No. 556) were created legal framework for the further development of small and medium businesses in Russia.

First of all, small and medium-sized businesses were identified, which include those included in the Unified State Register legal entities(Unified State Register of Legal Entities) consumer cooperatives and commercial organizations(with the exception of state and municipal unitary enterprises), as well as individuals entered in the Unified State Register individual entrepreneurs(EGRIP) and implementing entrepreneurial activity without formation of a legal entity, peasant (farm) enterprises. The Law on Small and Medium Enterprises established that the average number of employees for the previous calendar year should not exceed the limit values of the average number of employees for each category of small and medium-sized businesses: for medium-sized enterprises - from 101 to 250 people inclusive, for SE - up to 100 person inclusive; microenterprises - up to 15 people - stand out among SEs. Limit values were set for proceeds from the sale of goods (works, services) for the previous year, excluding value added tax, for categorization of small and medium-sized businesses, including for micro-enterprises - 60 million rubles, small enterprises - 400 million rubles. , medium-sized enterprises - 1 million rubles.

The Law on Small and Medium Enterprises defined the infrastructure for supporting small and medium-sized businesses, as well as the forms, conditions and procedure for this support. The infrastructure for supporting small and medium-sized businesses, in particular, includes centers and agencies for the development of entrepreneurship, state and municipal entrepreneurship support funds, credit assistance funds (guarantee funds, surety funds), joint-stock investment funds and closed-end mutual investment funds that attract investments for small and medium-sized businesses, technology parks, science parks, innovation and technology centers, business incubators, chambers, craft centers, marketing and training centers, export support agencies, leasing companies, consulting centers and other organizations.

Forms of support for small and medium-sized businesses include financial, property, information, consulting assistance in the areas of training, retraining and advanced training of employees, innovations and industrial production. The law provides for support for small and medium-sized businesses engaged in foreign economic, agricultural and some other activities. Financial support for SMEs, in particular, is carried out at the expense of the budgets of the constituent entities of the Russian Federation, local budgets by providing subsidies, budget investments, state and municipal guarantees for the obligations of small and medium-sized businesses and organizations that form the infrastructure for supporting small and medium-sized businesses.

Another step towards the formation of market institutions that promote the development of small businesses is the expansion of the number of participants in the lending market for small businesses. In 2009-2010, new participants appeared on the credit market - credit cooperatives and microfinance organizations. Federal Law No. 190-FZ dated July 18, 2009 “On Credit Cooperation” regulates the activities of credit consumer cooperatives aimed at organizing financial mutual assistance of members of a credit cooperative. federal law dated July 2, 2010 No. 151-FZ “On Microfinance Activities and Microfinance Organizations” (hereinafter referred to as the Law on Microfinance Activities) defines the procedure for acquiring the status of microfinance organizations and carrying out their activities, establishes the amount and conditions for granting microloans. Microloans are funds provided for temporary use by a microfinance organization to a borrower in the currency of the Russian Federation in accordance with current legislation in an amount not exceeding 1 million rubles.

Currently, loans provided by SE are the most expensive - more than 20% per annum. Commercial banks associate the level of interest rates on MB loans with high risks, often due to the lack of transparency of the business, the lack of reliable collateral, and credit histories. Many small and micro-enterprises maintain simplified accounting. Reporting provided by enterprises makes it difficult for the bank to assess creditworthiness using traditional methods and technologies. Small business is characterized by the absence of reliable collateral, since most of its representatives do not own securities and liquid assets of high value, capable of exceeding the loan in the required commercial banks proportions.

Due to the short period of existence of the IB itself in Russia and its high susceptibility to changes (change of location, products) and economic disasters, as a result of which some SEs leave the market, others reappear, only a small number of SEs have a credit history. As a rule, a positive credit history allows the client to take out a loan on more attractive terms. It is quite difficult for MB enterprises that have no credit histories, which have been operating on the market for less than one year and do not have a guarantor, to obtain a loan. In addition, against the backdrop of significant amounts of overdue debt that arose as a result of the crisis, the Bank of Russia raised the requirements for banks in the field of risk management system. The regulator required them to form reserves for loans provided by SE in the amount of 50 to 100%. The need for commercial banks to fully accept MB risks also hinders the development of credit relations between credit institutions and SE.

The lack of interest of banks in the development of credit relations with small and medium-sized businesses does not contribute to the creation of specialized loan products, optimization and reduction in the cost of the lending process and servicing the MB. Credit organizations have not yet done everything possible to create appropriate technologies for reviewing a loan application, processing documents, and making decisions. The lack of a sufficient amount of accumulated information on MB enterprises, special scoring methods for assessing creditworthiness, risks, standardization and automation of the procedure for granting loans does not allow reducing the costs and terms of processing SE documents. Methods of work with MB enterprises, identical in organization of relations with large corporate borrowers, on the one hand, lead to an increase in the processing time of documents and making a decision on granting a loan, on the other hand, to a higher loan price.

According to the nationwide public organization small and medium-sized businesses "Support - Credit", 17 Russian banks are most actively working with SMEs. However, their share in the structure of loans to small and medium-sized businesses is not equal. The largest market participants are OJSC Sberbank of Russia - more than 56% of loans, CJSC Bank Intesa - 25.5%, OJSC Bank Uralsib and OJSC Nomos-Bank - 4.6% each. The share of these four banks exceeds 86% of the total amount of loans provided by market leaders to small and medium-sized businesses (Table 1.11).

Table 1.11

Banks - participants in the lending market for small and medium-sized businesses*

Name	Net assets, thousand rubles
Sberbank of Russia

Intesa Bank
Bank "Revival

Promsvyazbank
Nomos Bank


Rus-Bank

Ending

Name	Net assets, thousand rubles	The volume of loans to small and medium-sized businesses, thousand rubles.	Share of loans to small and medium-sized businesses in the structure of net assets, %	Share in the total amount of loans provided by 17 banks, %
Solid Bank
Forus Bank
Gazstroybank

RosDorBank
Metkombank
UniCredit Bank

* Calculated according to http://www.opora-credit.ru/banks.

The share of other participants in the lending market for small and medium-sized businesses in the structure of the total amount of loans provided to small and medium-sized businesses by market leaders ranges from 3.4 to 0.1%. In addition, these tables make it possible to identify credit institutions that have significant components or specialize in servicing small and medium-sized businesses. Such organizations include CJSC Forus Bank, in which the share of SME loans is about 73% of net assets, CJSC Bank Intesa - about 65% of net assets, OJSC Bank Uralsib - more than 47% of net assets, OJSC JSCB Gazstroybank - 39%, OJSC Bank Vozrozhdenie, CJSC Solid Bank, OJSC Metcombank - more than 25% of net assets.

As the largest player in the SME lending market, Sberbank of Russia nonetheless allocates less than 7% of net assets to SME lending. However, the bank has to pay more attention to working with small businesses, since their number is more than 80% of corporate clients and individual entrepreneurs served by the bank. In 2008-2009, under the influence of the crisis, the number of creditworthy borrowers in this segment decreased significantly. In conditions of instability and a decrease in consumer demand, MB companies preferred to reduce their debt burden and repay previously taken loans. In the structure of the corporate loan portfolio in 2009, the share of SE did not exceed

11% and was more than 3 times less than the share of medium-sized and 4.5 times less than the share of large enterprises serviced by the Savings Bank of Russia (Fig. 1.13), which is insufficient and does not fully correspond to the state development goals in the country of small business.

Rice. 1.13. Structure of the loan portfolio of Sberbank of Russia in 2009

Sberbank of Russia provides loans to business owners with an annual revenue of up to 4.5 million rubles, individual entrepreneurs and small businesses with an annual revenue of up to 25 million rubles. The bank does not require the provision of collateral, confirmation of the purpose of the loan and does not charge commissions on the loan. The officially declared term for considering the issue of granting a loan is up to three business days. The minimum loan amount for business owners with an annual revenue of up to 4.5 million rubles. - 30 thousand rubles, for individual entrepreneurs and small businesses with an annual revenue of up to 25 million rubles. - 80 thousand rubles. The maximum loan amount cannot exceed RUB 1 million. Loan term - from 6 to 24 months. The loan rate is one of the lowest in Russia for SE - 19%.

For a positive decision on granting a loan, a guarantee of an individual or legal entity is required, depending on the form of ownership of the business: for an individual entrepreneur - a guarantee individual; for companies with limited liability- guarantee of a limited liability company owned by the borrower.

Another leader in the lending market for small and medium-sized businesses, Banca Intesa, offers loans to replenish working capital and investment purposes. The loan amount is from 150 thousand to 120 million rubles. for up to seven years. The officially declared term for granting a loan is from three days. Vehicles, real estate, equipment, personal property, surety, goods in circulation are accepted as collateral for a loan. The interest rate on loans is floating. For loans for up to 60 months, at the discretion of the client, the rate can be fixed (Table 1.12).

Table 1.12

Interest rates on loans from Bank Intesa OJSC to small businesses for up to 60 months*

Loan amount, rub.		Credit term

	Fixed rate, %
150 000 - 900 000
900 001 - 1 500 000
1 500 001 - 3 000 000
3 000 001 - 15 000 000
15 000 001 -75 000 000 75 000 001 - 120 000 000	The rate is set individually

* According to the official website of Bank Intesa OJSC: http://www.bancainte.sa.ru.

The bank charges a one-time fee for granting a loan in the amount of 1-5% of the loan amount. Commission for early repayment of the loan - 1% of the early paid amount. In the case when the loan amount is more than 1.5 million rubles. and provided that early repayment is made after 36 months from the date of receipt of the loan, no commission will be charged. If an insurance contract is concluded in connection with the provision of a loan or the conclusion of a security agreement, the tariffs of the insurer shall apply. The fee for early termination of the pledge at the request of the mortgagor or replacement of the pledged item is from 0.02 to 2% of the assessed value of the pledged item, determined by the parties in the pledge agreement, at least 100 rubles. Loan repayment can be made by annuity, differentiated payments, or an individual payment schedule can be drawn up, taking into account the seasonality of the client's business.

The conditions for granting a loan to small businesses by Sberbank of Russia and Intesa Bank, which consider this area of banking activity as one of the priorities, are quite comfortable and this compares favorably with the conditions for lending to SE by other credit organizations. CJSC Bank

VTB-24, for example, provides loans to individual entrepreneurs and MB owners in the amount of 100 thousand to 2 million rubles. Loan terms range from six months to five years. To apply for a loan, VTB-24 recommends using the life and disability insurance program, which guarantees the repayment of debt to the bank in the event of illness, injury or death of the borrower. The official period for considering a loan application and resolving the issue of granting a loan is five days. The bank charges a fee for issuing a loan in the amount of 2% of the amount, but not less than 3 thousand rubles. The loan price averages 24-27% per annum.

See: Data from the official website of the Federal State Statistics Service: http://www.gks.ru.

See: North D. Institutions, institutional changes in the functioning of the economy: per. from English. A.N. Nesterenko. M.: Beginnings, 1997. S. 17.

According to annual report Sberbank of Russia for 2009 Official website of Sberbank of Russia: http://www.sbrf.ru.

Microfinance is one of the most effective methods for developing small business. This is a financial industry aimed at providing various financial services to persons who, for one reason or another, are unable to use conventional banking services, for example, start-up entrepreneurs who do not have enough funds for current activities.

Those. it all comes down to money. The first problem of a novice entrepreneur is the initial (start-up) capital. If this problem is solved, the second problem arises - the further development of the business, which is difficult to solve without an accessible credit system, and start-up capital it won't be enough here.

Therefore, the task of developing the institution of microfinance appeared in the activities of the Government Commission for the Development of Small and Medium Enterprises. In addition, the development of microfinance is included in the package of anti-crisis measures provided for by the Federal Program for Supporting Small and Medium Enterprises.

Microfinance activity is the activity of organizations created for the purpose of providing access to small and medium-sized enterprises and infrastructure organizations supporting small and medium-sized businesses to financial resources, through the provision of loans (credits) to small and medium-sized businesses.

In essence, this activity is aimed at microcrediting entrepreneurs. A key feature of the activities of such organizations is the small amount of funds issued to cover small expenses for entrepreneurs. Thus, the main component of microfinance is microcredit, and in our country, where the microfinance market has just begun to develop, these concepts are almost identical.

The problem of microfinance in Russian economy today has acquired a specific meaning, and it should be considered not only as the most important tool for solving the problems of small and medium businesses and promoting entrepreneurship, but also as an instrument of anti-crisis policy.

Microfinance solves two major tasks: firstly, it helps to develop small businesses, accustoming entrepreneurs to work with borrowed funds and form a credit history; secondly, it helps to overcome poverty and unemployment.

According to the Ministry of Finance, there are currently about 450 organizations operating in Russia, which, in terms of their organizational and legal form and type of activity, can correspond to the characteristics of microfinance organizations.

Activities alternative to bank lending are regulated by the Law “On Microfinance Activities and Microfinance Organizations”. The regulator in the microfinance lending market is the Ministry of Finance.

Many different microfinance programs are currently being implemented. They are developed and offered to customers not only by banks, but also by specialized credit organizations involved in financing small and medium-sized businesses. They provide microfinancing for small businesses and entrepreneurship support funds. They can be both governmental and non-governmental. But their main service is the provision of microcredit.

So, microcredit is a kind of loan provided to small businesses on certain conditions.

According to the Russian Microfinance Center, the volume of loans for Russian market microfinance services is estimated at the level of 26-27 billion rubles, of which 54% - loans for business development, 35% - for consumer needs. The average amount of loans is 100-150 thousand rubles. The maximum microcredit is 1 million rubles. At the same time, 80% of loans are issued for a period of up to 1 year.

The economic situation in Adygea differs markedly from what is happening in other subjects of the federation. The republic at one time did not follow the path of some regions, including large cities, which, having taken large loans for development, have now become hostages of the crisis.

In this regard, the leadership of Adygea managed to prevent a negative scenario for the development of the economic life of the republic. In the absence of external debts, it manages with the resources that it has. And the most effective anti-crisis measure turned out to be a bet on small business.

Package of anti-crisis measures for federal level provides support for small and medium-sized businesses in three areas. They have become a priority in the republic. First of all, this is an increase in the amount of microcredits at a moderate percentage, improvement of the work of the created guarantee fund and subsidizing interest rates on loans.

In order to improve the mechanism for providing financial support to small and medium-sized businesses, the Program of micro-crediting to small and medium-sized businesses of the Republic of Adygea was approved.

According to the AU RA "Agency for the Development of Small Business", in 2010 funds were transferred in the amount of 45,000 thousand rubles for the implementation of the program. including:

RUB 9,000 thousand - subsidies from the republican budget of the Republic of Adygea;

36,000 thousand rubles - subsidies from the federal budget of the Russian Federation.

In 2010, 68 meetings of the credit commission of the AU RA "Agency for the Development of Small Business" were held, at which 256 loan applications of small businesses were considered, positive decisions were made on 228 applications, for a total amount of 54,630.0 thousand rubles. Rejected or postponed the adoption of a positive decision on 28 applications. Main reasons for refusal:

Non-compliance of applications with the selection criteria for potential borrowers;

Absence or insufficiency of collateral;

Inconsistency of lending goals with the tasks of priority areas state support;

The presence of activities that do not meet the conditions for the provision of state support, defined by Federal Law-209 "On the development of small and medium-sized businesses in the Russian Federation";

Providing an incomplete package of documents;

Providing false information.

After analyzing the approved loan applications in tables 1-3, we can conclude that a total of 80% of loans were issued in Maikop, Maikop and Giaginsky districts in such areas as trade and Agriculture(Table 1 - 2). Most of the enterprises of Adygea operating in the trade sector are enterprises with a staff of no more than 15 people. More than 97% of loans were taken to replenish working capital (Table 3).

Table 1. Distribution of borrowers by districts and citiesRepublic of Adygea

Place of business	number of approved applications	share, %	approved loans, thousand rubles
Giaginskiy district	32	11,09	6 060,00
Shovgenovsky district	22	4,14	2 260,00
Koshekhablsky district	27	7,35	4 010,00
Krasnogvardeisky district	3	2,75	1 500,00
Takhtamukaysky district	3	0,92	500,00
Teuchezhsky district	3	1,37	750,00
Maikop district	22	13,12	7 170,00
Maikop	112	56,06	30 630,00
Adygeysk	4	3,20	1 750,00
TOTAL:	228	100,00	54 630,00

Table 2. - Distribution of borrowers by areasactivities

Branches of activity	number of loans	share, %	loan amount	share, %
Production of goods	28	12,28	13 960,00	25,55
Trade	90	39,49	15 320,00	28,05
Domestic services population	14	6,15	3 300,00	6,04
Building	4	1,75	1 250,00	2,28
Agriculture	59	25,87		19,68
Transport services	10	4,38	1 250,00	2,28
Other	23	10,08	8 800,00	16,12
TOTAL:	228	100,00	54 630,00	100,00

Table 3. Distribution of borrowers by lending purposes

As of January 1, 2011, 393 small and medium-sized businesses are the users of financial support within the framework of the "Program of microcrediting of small and medium-sized businesses of the Republic of Adygea", of which 92 small and medium-sized businesses are engaged in the production of agricultural products. There are 53 peasant farms among the borrowers.

The anti-crisis program provides for preferential microcrediting for short time beginners and entrepreneurs developing their business. It is this category of entrepreneurs that is most vulnerable to the crisis, since it does not have a collateral base, credit history and a working current account. Under these conditions, banks stop lending to small businesses. In Adygea, the maximum amount of a microcredit for working capital increased from 300 to 500 thousand rubles. The amount of a microcredit for commodity production and the development of tourism infrastructure has also been established - one million rubles at 16% per annum.

Anna Viktorovna Kuprina
Kristina Dmitrievna Savina Financial and Economic Institute of Tyumen State University

annotation

Objective. The purpose of the work is to analyze the lending market for small and medium-sized businesses for the period 2015-2017, as well as to identify development trends for 2018. The method or methodology of doing the work. The study is based on methods factor analysis and interdisciplinary synthesis, which involve a precise delineation of the socio-economic forces acting on the object under study. The basis of this work is the research of domestic and foreign scientists on the problems of lending to small and medium-sized businesses. Results. The main indicators characterizing the state of this market segment in the last three years are analyzed. The key problems that slow down the development of bank lending to legal entities are identified. Based on the analysis, a forecast was made of the main trends in the development of this sector for 2018. For example, expanding the range of credit products will lead to attracting a larger range of customers among SMEs, which will further contribute to the establishment of stronger and long term relationship between lender and borrower. Scope of the results. The results of the study can be used by the management bodies of economic entities in the formation of a financial development management system. Conclusions. Based on the study, it can be concluded that in relation to lending to small and medium-sized businesses for the next year, there will be a trend of simplified loan products, online lending, and decisions will be made based on the analysis of large amounts of available information for each individual borrower. The stimulating lever will be the reduction of key rates by the Bank of Russia and the simplification of the mechanism for granting a loan to assess the borrower.

Small and medium-sized businesses are the basis for the stable development of the economy of any country: the development of SMEs makes it possible to increase the rate of economic growth, create a stable domestic effective demand, and also improves the quality of life of the population through the formation of a labor market in a competitive environment. However, the development of small and medium-sized businesses is associated with serious financial investments, which can only be made by attracting credit funds. Therefore, the development of the SME lending market is a priority for any national economy. The editors of the portal site asked Irina Safronova, a leading expert in the banking services analysis department of the Banki.ru portal, about trends in the lending market for small and medium-sized businesses in Russia.

What were the main trends in SME lending in the last year?

Last year, banks slightly reduced the cost of their loan offers for small and medium-sized businesses. The average rate on loans for business, calculated by Banki.ru experts for banks included in the TOP-100 in terms of the volume of the loan portfolio issued to enterprises and organizations, decreased by only 0.99 percentage points over the year, while in the first six months of 2017 this indicator decreased already by 1.35 p.p. Such a low dynamics of the reduction in the cost of credit resources is explained by the slow reduction of the key rate by the Bank of Russia. At the same time, the state's interest in supporting the SME sector stimulates the launch of new state-supported loan programs on the market, which somewhat improves the situation on the SME market.

What is the reason for the growth (reduction) of the SME loan portfolio last year?

Last year, the loan portfolio changed slightly increased, which is explained by several factors. Firstly, it is a high key rate and, as a result, expensive loans. And secondly, because crisis situation in the market, banks, in their desire to reduce the risks from lending to such an unstable sector, tightened the requirements for borrowers as much as possible, which again did not contribute to an increase in demand for credit resources. Many banks have increased the requirements for the life of the business - up to two years, they began to require highly liquid property as collateral with its mandatory insurance in an insurance company agreed by the bank, etc.

What obstacles exist in the Russian economy for a significant increase in bank loan portfolios in the segment of small and medium-sized businesses?

A sharp increase in the loan portfolio is hampered by the high cost of credit resources, as well as the high riskiness of this sector of the economy. As a result, banks impose increased requirements on borrowers, and often limit their circle only to “their”, verified clients, which makes it possible to study the borrower’s activities in more detail and control him during the term of the loan agreement.

What are the key differences between lending to SMEs and large businesses?

Big business is much more stable. Often, large players attract financing, already having much larger amounts on deposit accounts, which is a certain guarantee for the bank for the return of the issued loan and allows you to offer special conditions for lending. SMEs, on the other hand, often raise funds to cover running costs or for the acquisition of fixed assets, pledging property as collateral, which the bank cannot always quickly sell in the event of a loan default.

Are there government programs to support business borrowers?

Currently, there is a program of state support for small and medium-sized businesses, implemented by SME Corporation. It has already accredited 51 banks. The first concessional loan was issued at the end of 2015, and already in 2017 the Central Bank of the Russian Federation increased the limit for this program to 175 billion (+ 50 billion rubles). A number of mandatory requirements are put forward for enterprises wishing to attract financing within the framework of state support. At the same time, financing is not provided to enterprises from the following industries: credit and insurance organizations, investment funds, private pension funds, pawnshops, professional participants in the securities market, participants in production sharing agreements, gambling enterprises, enterprises engaged in the production and / or sale of excisable goods, and also extraction and/or sale of minerals (with the exception of common minerals).

What trends in the SME lending segment are observed in the current year?

Since the beginning of the year, many banks have been regularly lowering rates on their loan offers for small and medium-sized businesses. A new calculation of the average rate on business loans will appear on the Banki.ru website. There are several reasons for this. Of course, first of all, this is the repeated reduction of the key rate by the Bank of Russia. It is also a state program to support small and medium-sized businesses. There is hope that the reduction of interest rates on SME lending programs will continue further during the year.

What are the long-term prospects for lending to small and medium-sized businesses in Russia?

The SME lending market is more dependent on the economic situation and market fluctuations than the corporate or retail lending market. Therefore, in my opinion, it is not worth expecting a sharp growth in the coming years. To attract small businesses, banks need to simplify the conditions for obtaining financing, offer more loyal conditions. At the same time, it makes sense for credit institutions to develop financial literacy in the environment of small and individual entrepreneurship, because for successful start they sometimes need not only financial, but also informational support. For example, the SME Business Navigator project is running on the SME Bank website, with the help of which you can determine the saturation of the market with certain enterprises, as well as calculate a business plan based on your input.

Dmitry Nechetov

SMALL AND MEDIUM BUSINESSES in market systems accumulates more employees, a greater share of GDP, and often a greater share of patents for inventions than large enterprises. But in our country, small and medium enterprises have always been very vulnerable. In order to become a reliable basis for the economy, they must go through a period of transformation, receive support and guarantees, and master new - primarily new financial - technologies. It is a long way, therefore, only in the third year of economic turbulence, small and medium-sized enterprises begin to feel the ground under their feet, and the financial environment becomes more favorable for them.

Both 2014 and (in particular) 2015 were difficult years for SMEs. Their number has somewhat decreased, although the actual number of such companies has never been an objective indicator of the development of the sector. For example, according to Rosstat data for 2015, out of 2.24 million, only 1.5 million actually carried out activities - approximately this ratio of real and non-functioning firms has been maintained for many years. Population fluctuations are often associated with one-day firms or companies that exist only on paper. Much more important metric is the number of employees in SMEs. According to the results of the most difficult year for the sector in 2015, the number of employed (including individual entrepreneurs) amounted to 18.5 million, or 25.7% of all citizens employed in the economy. At the level of about 25%, this figure was kept before. And judging by it, no extinction of small businesses has occurred. Despite their economic vulnerability, they have retained employees and continue to work.

SMART loans, Top-Up loans and other new ways to make life easier for an entrepreneur.
Sergei Bessonov says
Senior Managing Director of Sberbank

Small and medium-sized enterprises are increasing their activity and hiring staff.

The sector experienced quite active development until 2014 inclusive. However, at the end of 2014 and in 2015, there was a slowdown in activity and a decrease in demand for loans from quality SME borrowers.

Sergei Bessonov

Share of entrepreneurs in SMEs in 2015
of the total number of citizens employed in the economy

The share of SME entrepreneurs who actually carried out activities in 2015 out of the total number of registered

IN RECENT YEARS even large enterprises had problems accessing debt financing. Small and medium enterprises had to get used to life without new loans. The real boom, observed in 2010 and 2011 (growth in new loans by 57% and 39%, respectively), was replaced by a calm pace of 15-16% in 2012-2013 and a failure in 2015 (minus 28%). At the same time, the share of overdue loans increased sharply - over 15% of their total amount. Some signs of recovery appeared on the horizon only in the middle of last year. In May 2016, for the first time in several years, timid positive rates of SME lending were noted - plus 1%. In June - already plus 8%. In the following months, lending activity subsided again, so that at the end of 2016, various experts expect a decrease in the loan portfolio by 2-3% (official results for all 12 months of 2016 are not yet available, according to the results of 11 months, the figure is minus 3%). Does this mean that 2016 was a bad year? It is clear that an overall positive outcome would be preferable, but the very fact that the decline has practically stopped is worth a lot. And most importantly, the results of 2016 indicate that in the coming months, an increase in lending to small and medium-sized enterprises will almost inevitably begin.

The first wave of rate cuts took place in October-November last year.
In 2017, loans will become even more affordable.

In the second half of 2016, the number of loan applications from SMEs increased by 10% compared to the first half of the year - which is already very good. When we talk to clients, we hear that there is a cautious faith and understanding of what will happen next. In 2015, everyone, relatively speaking, “squeezed”: it is not clear what will happen even after 6 months, so the demand for money has decreased. And now many investment projects frozen in 2015 and early 2016 are re-entering the market. And in 2017, we expect a quiet market growth of about 10%.

Director of credit department
products and processes of Sberbank
Sergei Bessonov

Increase in loan applications from SMEs for the 2nd half of the year
2016 vs. 1st

INTERESTING that the share of Russian SMEs that received the loan requested from the bank in full is 65%. This is almost in line with the average European Union and more than in countries like Spain or Italy. Fortunately, the Russian banking system is working steadily. And what happens in the opposite case can be seen in the example of Greece - there only 31% of small and medium-sized companies received the requested loan. But at the same time, the low involvement of SMEs in lending has become even clearer in recent years. Only about half of Russian companies in this segment have ever applied for a loan. And even now, according to NAFTA surveys, only 10% of enterprises believe that they need a loan, and only a third of them are going to apply for it in the near future. In Russia, among medium-sized businesses, lending is a completely non-obvious form of financing. The problem is not that loans are not issued. Loans are not applied for. Why - can be seen on the chart with interest rates on the market.

The share of Russian SMEs that received the requested loan from the bank in full

In 2015, rates exceeded 18% per annum, in 2016 they dropped to about 15% per annum, but this is still a lot. Does this mean that Russian banks trying to cash in on small businesses or putting prohibitively high barriers in their way? If we compare the refinancing rate of the Central Bank and the rate on loans in other countries, then no. In Italy or China, the difference in percentage points is about the same as in Russia. It's just that the refinancing rates there are much lower. Back in 2015, the CBR rate was quite driven by inflation, but inflation slowed sharply in 2016 and will remain low in 2017. This means that the Central Bank rate will inevitably decrease, which will immediately make lending more affordable for small and medium-sized businesses.

Dynamics of interest rates on loans in Russia
in 2015 and 2016

The growing demand for loans at the end of last year demonstrated:
small businesses gain confidence in the future.

Loan rates dropped significantly in 2016. Our last action took place in October last year, the rates were reduced by 1.5-5% per annum. I estimate that if positive trends continue in 2017, rates will continue to decline moderately - by 1-2%. If we take the rate reduction dynamics in 2016-2017 as a whole, then this is a significant reduction, and it is very important for the client: if the rates are high, you have to do super-profitable projects and take very big risks. When the rate for small businesses drops to 18% per annum, then to 15% per annum, and eventually to 12% per annum, businesses can afford to implement many more projects with less risk. By the way, for medium-sized businesses this promising offer is available today.

Director of credit department
products and processes of Sberbank
Sergei Bessonov

Projected decline in interest rates on loans in 2017, while maintaining positive trends

AT THE JOINT OF 2016 AND 2017 years, you can fix a few more good signs. First, the growth of "arrears" has reversed. In 2015 it was menacing, almost double. In 2016, it slowed down sharply. The maximum (15.2%) was reached in mid-2016, and since then this parameter has been declining. Secondly, the share of loans issued for a period of more than 3 years is gradually growing. This important indicator market stability and faith in the future of both lenders and borrowers. Thirdly, when many entrepreneurs took loans at very high rates, refinancing became extremely important (it is required by 12% of SMEs surveyed by NAFI) - this is a big market for banks and a big relief for entrepreneurs. Fourthly, businessmen themselves are somewhat more confident in the future. After the decline in the first half of 2016, optimism began to prevail: 36% of SME representatives assess the prospects as good or very good. Both bad and very bad - 20%.

The share of SME representatives who assess the development prospects as good and very good

It is extremely important that the largest players - banks from the top thirty and even the state itself are increasingly actively involved in lending to small and medium-sized businesses. Until the end of 2015, the TOP-30 banks reduced lending to SMEs even faster than the market as a whole. Since the beginning of 2016, there has been a trend reversal: the largest banks are becoming the driver of this segment. A government programs- both regional and federal - allow you to receive preferential loans as certain categories enterprises, and all SMEs in certain regions where pilot programs are operating (which are likely to spread more widely in 2017). Technology is also becoming an important factor improving the economic environment. First of all, such as remote banking and BigData analysis, which allows you to quickly assess risks, issue loans faster and at a lower cost. best conditions(as is the case with SMART loans from Sberbank).

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