St. Petersburg: the small business will allocate another 400 million rubles

Small Business of the northern capital of Russia will receive an additional 400 million rubles for the development and support. Now the assets of the Fund's assistance to small business lending will increase by 400 million rubles, which in total will amount to little more than 1,5 billion rubles. To date, the Foundation for Small Business Saint Petersburg collaborate about 22 banks in the country. Chairman CEDIPT, Maxim Sokolov, said: "Growth Fund's assets at 400 million rubles will increase the amount of guarantees provided, and provide an opportunity to increase the loan portfolio for small businesses for more than 1,5 billion rubles." The money will come from the additional contingency fund of the Government of St. Petersburg.