Makhachkala, January 9, 2020. In 2019, the republican Small Enterprise Assistance Fund increased the volume of state support provided to the small and medium-sized enterprises. As to the head of the RD Guarantee Fund Rustam Abulmuslimov, the volume of funding exceeded 98.5 million rubles and credit funds amounted to approx. 233 million rubles.

“The fund does not provide direct financing, but only acts as a guarantor when obtaining a loan. In total, support was provided to 19 organizations” - Abulmuslimov said. The government official also recalled that the funds can be used to refinance the existing loans, to replenish working capital, to purchase and modernize fixed assets or to introduce new technologies for innovation and simply expand production.

The Fund also did not disregard the practical and informational components and organized several workshops for entrepreneurs last year at which they learned how to apply for guarantees.