SME loans are losing in amount, but not in quantity // Monitoring of small business

The volume of loans provided to small and medium-sized enterprises (SMEs) in July 2021 amounted to 830.3 billion rubles. after a record of 1.06 trillion rubles. in June, the Bank of Russia reported. However, in comparison with July 2020, the indicator increased by 27.6%. Over the month, slightly more than 157 thousand loans were issued, which is slightly less than in June (about 158 ‚Äč‚Äčthousand), and 36.3% less than in July 2020, when there was a large-scale increase in the number of new loans and a decrease in their average up to a minimum of 2.6 million rubles. The average size of a loan provided in July 2021 decreased to RUB 5.3 million. from 6.7 million rubles. in June – earlier the Ministry of Economy reported that they were seeking a wider coverage of SMEs with lending, which should cause a decrease in the average amount (see Kommersant of August 30). The share of borrowers in July in the total number of SMEs increased by 0.29 percentage points (pp) compared to June and amounted to 6.46% as of August 1.

In total, as of August 1, 363.5 thousand SMEs had a loan. The aggregate portfolio for the month decreased by 10.3%, to 6.13 trillion rubles, against the background of a decrease in the number of legal entities and individual entrepreneurs classified as SMEs. At the same time, the annual growth rate of the portfolio remained positive and amounted to 16%. The weighted average rate on ruble loans for up to a year for non-financial SMEs in July amounted to 8.86% per annum, which is 0.5 pp more than in June (against the backdrop of an increase in the key rate of the Central Bank). For long-term loans, it practically did not change – 8.52%. Over the year, the cost of loans increased by 1.43 pp and 0.51 pp, respectively.

Business associations have been pushing for new measures to support SMEs from the government in recent months. According to the head of Opora Rossii Alexander Kalinin, in fact, in September, large banks have already chosen the limits of the concessional loan program by Resolution No. 1764: 14-16% against the backdrop of high demand due to rising prices for manufactured goods. ” The Ministry of Finance does not support the proposal – the data of Rosstat and the Bank of Russia do not record a deterioration in the situation of SMEs. On Friday, the Ministry of Economy announced that it is focused on evenly distributing limits and expanding the number of borrowers, confirming that no additional funding is planned for the program. Half of the participating banks continue to issue loans, the department noted.

Venus Petrova

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