Probably, as long as money exists, loans exist for just as long. The essence of the loan involves taking funds from the borrower for temporary use with subsequent return and payment of remuneration for the use of the funds provided.

The first creditors were the so-called moneylenders - people who lend money to clients for a certain period of time and charge accumulated interest along with the amount of debt, often unreasonably high. An example is such a famous character as Gobsek.

Moneylenders were not respected, they were often hated, their property was destroyed (in our history, the usury sector was held mainly by Jews, for which they often paid for it - Jewish pogroms, etc.), but, nevertheless, all segments of the population used their services: from the least poor to the richest citizens.

With the advent of banks and other financial structures, credit relations began to take a more civilized form, contributing to the development of market relations, helping enterprising members of society to create their own businesses. People with low incomes have the opportunity to purchase the goods and services they need without making a one-time deposit of huge funds, since loan payments are made in small amounts over a certain period.

In Europe and America, loans have long become an integral part of the life of the majority of the population; purchases on credit are perceived as a natural process of life. Credit becomes a kind of engine of the economy, pulling the less affluent sections of society to a higher social level, contributing to the successful development of the rich’s own business.

In our country, lending, in its classical forms, began to develop only after the collapse of the USSR and has been especially active only in recent years. Let's look at the loans issued today in the Russian Federation.

Main types of loans in the Russian Federation

The following types of loans are developed in our country:

1) interbank loan;

2) state loan;

3) bank loan;

4) subordinated loan;

5) social credit;

6) microcredit;

7) mortgage loans;

Interbank loan

Interbank credit ensures the redistribution of capital between banks. With its help, the creditor bank profitably places temporarily available funds, and the borrower bank receives the necessary monetary resources to use them to issue loans to clients who apply to it. The creditor most often becomes the Central Bank, less often - commercial banks. Borrowers are commercial or private banks.

State loan

A state loan is the conclusion of an agreement on the temporary provision of funds (on the terms of repayment, urgency and payment), and one of the parties to the agreement is the state. A treaty can be concluded between states, as well as a state and a legal or natural person. It is customary to distinguish between external and internal forms of state credit. Borrowing is carried out through a credit loan or the issue of securities. The funds received are used strictly for their intended purpose - to finance the most important government programs for the country.

Bank loan

A bank loan is the provision by the bank to the client of the amount he requires at interest for a certain period. Loans can be issued both in cash and in non-cash form (by transferring funds directly to the seller’s account or to a credit card).

Various bank loans can be classified according to the following criteria: repayment period (long-term, short-term, medium-term), payment method (lump sum payment, installment plan), loan interest repayment method (when repaying the entire amount, when receiving a loan and in equal payments).

There is a classification of loans by purpose: payment (directed to repay payments), consumer, for financing, for the purchase of securities. Particular attention should be paid to consumer loans, as well as such targeted types of loans as car loans or borrowing funds to pay for education, as they are most relevant at the present time.

Types of bank loans by purpose

A consumer loan is issued to clients for any needs, it can be treatment, a tourist trip, the purchase of goods, repairs, etc. Typically, this type of loan is short-term or medium-term (from 1 to 3 years) and is repaid with calculated payments once a month. A consumer loan has an amount limit, i.e. The maximum loan amount for this type of loan has been established.

A car loan (loan to purchase a car) is issued for a longer period (up to 7 years). It can be issued either secured by a car or without collateral, with or without payment of a down payment. This is a very popular type of loan among the population, as it allows people with average and low incomes to purchase a new car virtually in installments.

The student loan is used to pay for education in higher and secondary educational institutions. Provided in the form of a credit line for a period of 6 months to 7 years. No down payment required.

Subordinated loan

A subordinated loan is a type of lending in which funds are provided for temporary use to the borrower for a period of five years or more at an interest rate not exceeding the refinancing rate of the Central Bank of Russia. The loan is repaid in a lump sum after the end of the period specified in the agreement. If there is any violation of the terms of the contract on the part of the borrower, the lender has the right to demand repayment of the amount prematurely. If at the time of expiration of the contract the borrower’s organization was liquidated, then the lender has the right to demand repayment of the debt amount only after other loans are repaid.

Social credit

Social credit has the most accessible terms for making a loan, and it is intended to provide the necessary funds to less protected segments of the population. As a result, social lending helps stabilize the situation of social equality in the country.

Microcredit

Microloans consist of providing funds exclusively to small entrepreneurs who are unable to obtain loans from banks, therefore this type of lending plays an important role in the development of entrepreneurship.

Mortgage

Mortgage, mortgage lending - a loan issued for a long term (10-15 years or more) for the purchase of real estate. In this case, the acquired real estate is pledged as collateral for the loan amount received and is not the property of the borrower until the entire loan amount and interest are repaid. The population of Russia actively participated in various credit programs, which was beneficial for each side of mortgage lending, but with the onset of the crisis everything changed dramatically and now mortgage lending is not popular.

Lending in times of crisis

The crisis dealt a heavy blow to banks, and money in the banking system began to melt. The lack of money in the banking sector can be compared to the lack of oxygen for a person; as a result, the body begins to suffocate. In our case, this happens with an economy that cannot exist, much less develop, without monetary resources.

Loans have become more expensive, and not everyone will be able to get them, but rumors that banks have stopped issuing money are clearly exaggerated. Recently, there has been a decrease in the number of applications and lending volumes. This is due to a number of reasons, in particular, now in most cases the pace of production and business of legal entities is reduced.

Financial instability leads to an increase in the number of outstanding loans. In the face of job cuts and salary cuts, many citizens simply lost the ability to pay their loans. New interest rates make it difficult to make regular payments. This leads to loss of income and, as a consequence, to a decrease in financing and a reduction in the rate of cash turnover.

Mortgages and car loans were especially hard hit. Since last summer, the dollar-ruble exchange rate has increased by 20%, and for those who took out a mortgage in dollars and receive their salary in rubles, the monthly payment has increased significantly. If the loan amount is converted into ruble currency, the monthly payment will also increase.

It has become difficult for borrowers to obtain loans as interest rates have risen and requirements for proof of solvency have become more stringent. When receiving a loan, the total work experience of the potential borrower, as before, must be at least a year, but banks began to pay attention to how long the client actually has been at his job.

Banks are paying more strict attention to credit history: from now on, a borrower can be blacklisted, even if the previous loan is overdue for at least a couple of days. The term for early repayment of the loan has been extended; now you can repay the loan ahead of schedule no earlier than six months later.

In these difficult conditions of the economic crisis, the government supports banks in all available ways:

For credit institutions, the rate of mandatory contributions to reserve funds was reduced, which freed up significant amounts of funds.

Central banks are actively lending to commercial banks, providing them with the necessary monetary resources (subordinated loans).

The growth of interest rates on lending to individuals has stopped and froze, but this situation depends on the general economic situation, which can change at any time.

According to experts, the economic situation, both in the world and in our country, should soon stabilize, but this stabilization is possible only with the participation of the state. The realistic time frame for the recovery of the financial sector is one and a half to two years, but gradual stabilization of the economy may begin earlier.

Lending, in particular, operates within the framework of the current legislation in our country and is regulated by various regulatory documents.

Consumer lending has the following legal basis:

Civil Code of the Russian Federation (part two) dated January 26, 1996 No. 14-FZ (as amended on June 14, 2012).

Federal Law of the Russian Federation dated December 2, 1990. No. 395 - 1 (as amended on March 14, 2013) “On Banks and Banking Activities.”

Regulation No. 54-P dated August 31, 1998 (as amended on January 27, 2001) “On the procedure for the provision (placement) of funds by credit institutions and their return (repayment).”

Regulations dated March 26, 2004. No. 254 - P (as amended on December 24, 2012) “On the procedure for credit institutions to form reserves for possible losses on loans, on loans and similar debts.”

Instruction of the Central Bank of Russia dated December 3, 2012 No. 139 - And “On mandatory standards of banks” (Registered with the Ministry of Justice of Russia on December 13, 2012 No. 26104).

Federal Law No. 2872-1 “On Pledge” dated May 29, 1992 (as amended on December 6, 2011)

Federal Law “On insurance of deposits of individuals in banks of the Russian Federation” dated December 23, 2003 No. 177-FZ (as amended on December 3, 2011).

Federal Law “On Mortgage (Pledge of Real Estate)” No. 102-FZ dated July 16, 1998 (as amended on December 6, 2011).

Federal Law dated December 30, 2004 No. 218-FZ (as amended on December 3, 2011) “On credit histories.”

Civil Code of the Russian Federation (part two) dated January 26, 1996 No. 14-FZ (as amended on June 14, 2012).

The main document regulating relations in the field of lending is the “Civil Code of the Russian Federation (Part Two)” dated January 26, 1996 No. 14-FZ (as amended on June 14, 2012). In particular, Chapter 42 of the Civil Code of the Russian Federation is devoted to this issue. In accordance with the Civil Code of the Russian Federation, when carrying out lending operations it is necessary to conclude a loan agreement. Under a loan agreement, a bank or other credit organization (lender) undertakes to provide funds (loan) to the borrower in the amount and on the terms stipulated by the agreement, and the borrower undertakes to return the amount received and pay interest on it. The loan agreement must be concluded in writing. Failure to comply with the written form entails the invalidity of the loan agreement. In accordance with Art. 821 the lender has the right to refuse to provide the borrower with the loan provided for in the loan agreement in whole or in part if there are circumstances clearly indicating that the amount provided to the borrower will not be repaid on time. The borrower has the right to refuse to receive a loan in whole or in part by notifying the lender before the deadline established by the agreement for its provision, unless otherwise provided by law, other legal acts or the loan agreement. If the borrower violates the obligation for the intended use of the loan provided for in the loan agreement (Article 814), the lender also has the right to refuse further lending to the borrower under the agreement. In the Civil Code of the Russian Federation No. 14-FZ Art. 822 states that the parties may enter into an agreement providing for the obligation of one party to provide the other party with things defined by generic characteristics (commodity credit agreement). Conditions on quantity, assortment, completeness, quality, containers and (or) packaging of provided items must be fulfilled in accordance with the rules on the contract for the sale of goods (Articles 465 - 485), unless otherwise provided by the trade credit agreement.

Agreements, the execution of which is associated with the transfer to the ownership of another party of money or other things determined by generic characteristics, may provide for the provision of a loan, including in the form of an advance, prepayment, deferment and installment payment for goods, work or services (commercial loan), unless otherwise established by law (Article 823). Thus, lending can be carried out in kind or in cash. The procedure and conditions for lending in the Russian Federation are regulated by Chapter 42 “Loan and Credit” of the Civil Code of the Russian Federation. So, the Civil Code regulates the basic provisions in the field of lending and the relationship between creditor and debtor.

Federal Law No. 2872-1 “On Pledge” dated May 29, 1992 (as amended on December 6, 2011, as amended on October 2, 2012).

Another regulatory document related to lending is Federal Law No. 2872-1 “On Pledge” dated May 29, 1992 (as amended on December 6, 2011, as amended on October 2, 2012), which regulates the provisions on pledge, as a way to ensure fulfillment of obligations. Pledge transactions are based on the following basic provisions:

1. The pledge right to the property passes along with it to any new acquirer of this property or remains with the pledgor.

2. The subject of the pledge can only be any property of the debtor, which in accordance with the legislation of the Russian Federation can be alienated.

3. The creditor (mortgagee), in the event of failure by the borrower (mortgagor) to repay the debt, has the right to foreclose on the pledged property, including by selling it, i.e. alienation from the pledgor.

There are two types of collateral:

a) a pledge with the property retained by the pledgor;

b) a pledge with the transfer of the pledged property to the pledgee (mortgage).

Among entrepreneurs, collateral with the pledged property remaining with the mortgagor is more popular, since it allows them to continue to conduct business using the pledged property. The next type of security is a guarantee, the essence of which is that the guarantor undertakes to be responsible to the creditor of another person for the latter’s fulfillment of his obligation in full or of certain points thereof. Thus, a guarantee increases the likelihood of fulfillment of obligations for the creditor, since if the debtor violates them, the creditor can present his claims to the guarantor. The use of a bank guarantee as security is characterized by the fact that one or another credit institution gives, at the request of another person, a written obligation to pay the creditor in accordance with the agreed conditions a sum of money upon the written request of the creditor for its payment. With a bank guarantee, it is necessary to check the presence in the credit dossier of documents confirming the good standing of the guarantor. The above forms of securing loan repayment are traditional in Russian banking practice.

Federal Law of the Russian Federation dated December 2, 1990. No. 395 - 1 (as amended on March 14, 2013) “On Banks and Banking Activities.”

The placement (provision) of funds by a bank means the conclusion between the bank and the bank’s client of an agreement drawn up taking into account the requirements of the Civil Code of the Russian Federation. In accordance with Article 1 of the Federal Law “On Banks and Banking Activities,” the bank transfers funds on the terms of payment, urgency and repayment, and the bank client returns the funds received in accordance with the terms of the agreement.

In accordance with Article 24 of the Federal Law “On Banks and Banking Activities,” creditor banks are required to create reserves for possible losses on provided funds in the manner established by the Bank of Russia in order to cover possible losses associated with the failure of borrowers to return received funds.

Interest rates on loans are set by the credit institution by agreement with clients, which follows from Article 29 of the Federal Law “On Banks and Banking Activities”.

According to Article 30 of the Law “On Banks and Banking Activities”, participants of a credit organization do not have any advantages when considering the issue of obtaining a loan.

In accordance with Article 34 of the Federal Law “On Banks and Banking Activities,” the bank is obliged to take all measures provided for by law to collect debt (including interest) from the debtor client. A credit organization has the right to apply to an arbitration court to initiate insolvency (bankruptcy) proceedings against debtors who fail to fulfill their obligations to repay the debt, in the manner prescribed by federal laws.

Regulation No. 54-P dated August 31, 1998 (as amended on January 27, 2001) “On the procedure for the provision (placement) of funds by credit institutions and their return (repayment).”

The main provision that regulates the legal basis for lending is Regulation No. 54-P dated August 31, 1998 “On the procedure for the provision (placement) of funds by credit institutions and their return (repayment).” It contains the following information.

The provision (placement) of funds by the bank to individuals is carried out in a non-cash manner by crediting funds to the bank account of the client - the borrower of an individual, or in cash through the bank's cash desk.

The provision of funds in foreign currency is carried out by banks in a non-cash manner.

The bank provides funds to bank clients in the following ways:

One-time transfer of funds to bank accounts or issuance of cash to a borrower - an individual;

Opening a credit line, i.e. conclusion of an agreement on the basis of which the client-borrower acquires the right to receive and use funds within a specified period, subject to one of the following conditions:

a) the total amount of funds provided to the client-borrower does not exceed the maximum amount (limit) specified in the agreement;

b) during the period of validity of the agreement, the amount of the one-time debt of the client-borrower does not exceed the limit established for him by this agreement.

At the same time, banks have the right to limit the amount of funds provided to the client-borrower within the framework of the credit line opened to the latter by simultaneously including in the relevant agreement the two above-mentioned conditions, as well as using for these purposes any other additional conditions while simultaneously meeting the established requirements.

The conditions and procedure for opening a credit line to a client-borrower are determined by the parties either in a special master agreement or directly in the agreement for the provision of funds.

Lending by the bank to the bank account of the client - borrower (if there is insufficient or no funds on it) and payment of settlement documents from the bank account of the client - borrower, if the terms of the bank account agreement provide for this operation. Lending by the bank to the bank account of the client-borrower in the event of insufficient or absent funds on it is carried out under an established limit (i.e., the maximum amount for which the specified operation can be carried out) and the period during which the arising credit obligations of the bank client must be repaid.

Other methods that do not contradict current legislation.

Regulations dated March 26, 2004. No. 254 - P (as amended on December 24, 2012) “On the procedure for credit institutions to form reserves for possible losses on loans, on loans and similar debts.”

The procedure for the formation by credit institutions of reserves for possible losses on loans, on loan and equivalent debt is established by the Regulation of the Central Bank of the Russian Federation dated March 26, 2004 No. 254-P.

The return of funds placed by the bank and the payment of interest on them is made by transferring funds from the accounts of clients - borrowers - individuals on the basis of their written orders, transferring funds of clients - borrowers - individuals through communications authorities or other credit organizations, the latter depositing cash into cash desk of the creditor bank on the basis of a cash receipt order, as well as deductions from amounts due for wages to clients - borrowers who are employees of the creditor bank (according to their applications or on the basis of an agreement).

Federal Law “On insurance of deposits of individuals in banks of the Russian Federation” dated December 23, 2003 No. 177-FZ (as amended on December 3, 2011).

In order to strengthen confidence in the banking system on the part of the population and increase the organized savings of the population, as well as reduce the risks of banks in the formation of a long-term resource base, the Federal Law “On insurance of deposits of individuals in banks of the Russian Federation” dated December 23, 2003 No. 177-FZ was adopted ( ed. dated December 3, 2011). This Federal Law establishes the legal, financial and organizational basis for the functioning of the system of compulsory insurance of deposits of individuals in banks of the Russian Federation, the competence, procedure for the formation and activities of the organization performing the functions of compulsory deposit insurance, the procedure for paying compensation for deposits, regulates relations between banks, the deposit insurance agency , the Bank of Russia and the executive authorities of the Russian Federation in the field of relations on compulsory insurance of deposits of individuals in banks.

Federal Law “On Mortgage (Pledge of Real Estate)” No. 102-FZ dated July 16, 1998 (as amended on December 6, 2011).

There is also the federal law “On mortgage (pledge of real estate)” No. 102-FZ dated July 16, 1998 (as amended on December 6, 2011). This document regulates all issues and conditions for providing a mortgage loan in the Russian Federation.

Federal Law dated December 30, 2004 No. 218-FZ (as amended on December 3, 2011) “On credit histories.”

Of particular importance for establishing credit relations and building a modern economy as a whole is the adoption of the Federal Law of December 30, 2004 No. 218-FZ (as amended on December 3, 2011) “On Credit Histories.” The purpose of this Federal Law is to create a system for disclosing information about the conscientiousness of the fulfillment by borrowers of obligations to creditors. The federal law is aimed at reducing the costs of banks when assessing the creditworthiness of borrowers and will reduce the cost of loans issued. An important role in the implementation of this Federal Law is played by the Bank of Russia, whose structural unit - the Central Catalog of Credit Histories - is designed to serve as a single information center where you can obtain free information about which credit history bureau contains information about a specific subject of credit histories. In addition to the borrowers and lenders themselves, participants in the exchange of information about the conscientious fulfillment of obligations by borrowers to creditors are credit bureaus. The main goal of the credit history bureau is to accumulate a certain list of information characterizing the payment discipline of the borrower for the execution of loan (credit) agreements, and collectively constituting the credit histories of legal entities and individuals for its subsequent transfer to persons who have received consent to receive a credit report for concluding a loan agreement (loan).

Instruction of the Central Bank of Russia dated December 3, 2012 No. 139 - And “On mandatory standards of banks” (Registered with the Ministry of Justice of Russia on December 13, 2012 No. 26104).

This Instruction establishes the numerical values ​​and methodology for calculating the following mandatory standards for banks (hereinafter referred to as the mandatory standards): adequacy of the bank's own funds (capital); bank liquidity; the maximum amount of risk per borrower or group of related borrowers; maximum size of large credit risks; the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders); the total amount of risk for bank insiders; using banks' own funds (capital) to acquire shares (shares) of other legal entities.

Draft federal law “On consumer credit”.

The current lending practice in Russia shows that certain elements of international law in this area need to be enshrined in the legislation of the Russian Federation, which does not take into account the special rights of the borrower, accepted in international practice, that arise in connection with the receipt of a consumer loan.

It should be noted that the banking sector abroad is one of the most regulated and subject to control both by government bodies authorized to exercise financial control and by non-governmental organizations exercising independent financial control.

Despite the very detailed regulation of banking activities, both at the level of federal laws and at the level of by-laws, the banking sector is constantly in the spotlight. Among the problems arising in the banking sector, one can highlight the problems of non-repayment of consumer loans to banks and the dishonesty of banks.

Over the past three years, the volume of annual consumer loans has increased sevenfold. Their share in banking portfolios is approaching 25%, which causes problems in terms of:

Increasing the financial literacy of the population, the ability to plan personal finances;

Protecting borrowers when communicating with banks, providing citizens with all the necessary information at the stage of concluding an agreement;

Preventing loan defaults and protecting creditors, including by collecting information, credit histories, increasing the effectiveness of collateral and collateral;

Creation of a system for working with bad debts (call centers, collection agencies, etc.)

The main feature of the legal regulation of consumer lending in Russia is the absence of a special law providing for the key characteristics of consumer lending: the status of subjects of consumer lending, its conditions, legal guarantees, etc. In addition, the concept of “consumer credit” is not disclosed in the legislation of the Russian Federation.

At the same time, the general provisions of the Civil Code of the Russian Federation on loans (credit) and the Law of the Russian Federation dated 02/07/1992 No. 2300-1 (as amended on 07/28/2012) “On the protection of consumer rights”, regulating legal relations with the participation of consumers purchasing or using goods (work, services) ) for needs not related to business activities, do not take into account all the specifics of the legal regulation of consumer lending, which leads to uncertain legal consequences.

For the purpose of legal regulation of relations related to consumer lending, a draft federal law “On Consumer Credit” was developed, according to which, when determining the rights of the borrower, the right to receive from the lender reliable and complete information about the conditions for provision, use and repayment is established as fundamental. consumer loan, including payments on a consumer loan, which include annual interest on a consumer loan, the procedure for their calculation and changes, as well as additional payments on a consumer loan associated with the provision, use and return of a consumer loan, allowing the borrower to make an informed choice . At the same time, the obligation of the creditor to provide this information corresponding to these rights is fixed.

This bill introduces requirements for the list of essential terms of a consumer loan agreement, provides for a ban on the inclusion in the agreement of conditions that infringe the rights of the borrower, and also defines the specifics of concluding a consumer loan agreement.

To eliminate the legal gap in the legislation, as well as taking into account the international practice of regulating consumer lending relations, the bill provides for granting the borrower the right to refuse to use the provided consumer loan without giving reasons to the lender with the payment of interest within 14 days from the date of maturity of the loan, and also provides the right for early repayment of the entire amount of a consumer loan or part thereof without changing any sanctions, but with payment of interest per annum on the loan for the actual loan period.

To implement the provisions of the bill providing for the borrower's right to early repayment of a consumer loan, amendments to the Civil Code of the Russian Federation will be required.

These legislative restrictions will ultimately be beneficial to the banks themselves, since they will help attract free funds from citizens.

In addition, consolidation of these provisions will help improve the situation in the consumer lending market, develop competition and increase consumer confidence in the bank lending system.

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Credit is in many ways a condition and prerequisite for the development of a modern economy, an integral element of economic growth. It is used by both large enterprises and associations, and small manufacturing, agricultural and trading enterprises. It is used by both states and governments, as well as individual citizens. Credit serves the movement of capital and the constant movement of various public funds. Thanks to credit, the national economy productively uses funds released during the activities of enterprises, in the process of implementing the state budget, as well as the savings of the population and bank resources. Based on these aspects, we can say that the role of credit in the economy will always be relevant, which is why I chose this topic for the course work.

The purpose of this work is to identify the most suitable and affordable method of lending to small businesses.

The objectives of this course work are to analyze the essence and functions of credit, lending to small businesses, identifying positive and negative aspects in the activities of credit institutions and ways out of the current situation. The analysis is carried out on the basis of textbooks on economic specialties by famous authors and on the basis of newspaper articles

The object of study of this work is small businesses and credit organizations that provide them with financial assistance.

Russia's transition to a market economy, overcoming the crisis and resuming economic growth, increasing the efficiency of the economy, and creating the necessary infrastructure cannot be ensured without further development of credit relations.

Credit is the movement of loan capital, i.e. monetary capital lent on the terms of repayment for a fee in the form of interest. This is the simplest definition. The definition of a loan is very briefly given here, its essence is revealed, but nothing is said about the purpose, participants in credit and financial relations and the terms of repayment. The following definition has, in my opinion, some novelty compared to this definition.

Credit - lending money or goods, usually with the payment of interest; a value economic category, an integral element of commodity-money relations. The emergence of credit is directly related to the sphere of exchange, where the owners of goods confront each other as owners ready to enter into economic relations. This definition of a loan well reflects the concept and essence, but it lacks a clear designation of the participants in credit and financial relations, and nothing is said about the terms of repayment. The following definition gives a complete picture of the loan.

A loan is the transfer of money or material assets by one party (lender or creditor) to another party (borrower) on the terms of repayment. That is, both parties must agree, or, in legal terminology, enter into a loan agreement between themselves. The necessary elements of such an agreement must be the subjects of the agreement (who gives and who takes), the object of the agreement (what is lent - grain, tools, money), the period after which the debtor must repay the loan, and the conditions on the basis of which the money (thing) ) are given as a loan: return of an item of the same kind and quality (money), but more by a certain amount (percentage), etc. This is a definition of a loan that more covers its essence, purpose, participants and repayment terms. The parties agree on all these conditions independently.

After analyzing all the definitions of credit, we can give one generalized definition. A loan is a loan agreement between two parties regarding the provision of funds or inventory items under certain conditions (interest payment and repayment period) in order to support economic activity, meet the needs for the things provided, etc.

The possibility of the emergence and development of credit is associated with the circulation and turnover of capital. In the process of movement of fixed and working capital, resources are released. The means of labor are used in the production process for a long time, their cost is transferred to the cost of the finished product in parts. The gradual restoration of the value of fixed capital in monetary form leads to the fact that the released funds are deposited in the accounts of enterprises. At the same time, at the other pole, there is a need to replace worn-out labor tools and quite large one-time costs. Processes of a similar nature occur in the movement of working capital. Moreover, here fluctuations in circulation and circulation manifest themselves in more diverse ways. Thus, due to seasonality of production, uneven supplies, etc., there is a discrepancy between the time of creation and circulation of products. Some subjects have a temporary surplus of funds, while others have a shortage. This creates the possibility of the emergence of credit relations, that is, credit resolves the relative contradiction between the temporary settling of funds and the need for their use in the economy.

Credit relations in the economy are based on a certain methodological basis, one of the elements of which is the principles that are strictly observed in the practical organization of any operation on the loan capital market. These principles spontaneously emerged at the first stage of credit development, and later found direct reflection in national and international credit legislation.

Loan repayment

This principle expresses the need for timely return of financial resources received from the lender after completion of their use by the borrower. It finds its practical expression in the repayment of a specific loan by transferring the corresponding amount of funds to the account of the credit institution (or other creditor) that provided it, which ensures the renewability of the bank’s credit resources as a necessary condition for the continuation of its statutory activities. In domestic lending practice in a centrally planned economy, there was an unofficial concept of “non-repayable loan”. This form of lending was quite widespread, especially in the agricultural sector, and was expressed in the provision of loans by state credit institutions, the repayment of which was not initially planned due to the crisis financial condition of the borrower. In their economic essence, non-repayable loans were rather an additional form of budget subsidies provided through the intermediary of a state bank, which traditionally complicated credit planning and led to constant falsification of budget expenditures. In a market economy, the concept of a non-repayable loan is as unacceptable as, for example, the concept of a “planned unprofitable private enterprise.”

Loan term

It reflects the need to repay it not at any time acceptable to the borrower, but within a precisely defined period fixed in the loan agreement or a document replacing it. Violation of this condition is a sufficient basis for the lender to apply economic sanctions to the borrower in the form of an increase in the interest charged, and with a further delay (in our country - more than three months) - presentation of financial claims in court. A partial exception to this rule are so-called on-call loans, the repayment period of which is not initially determined in the loan agreement. These loans, quite common in the 19th and early 20th centuries. (for example, in the US agricultural complex), are practically not used in modern conditions, primarily due to the difficulties they create in the credit planning process. In addition, the on-call loan agreement, without defining a fixed repayment period, clearly establishes the time available to the borrower from the moment he receives the bank’s notification about the return of previously received funds, which to some extent ensures compliance with the principle in question.

Payment of the loan.

This principle expresses the need not only for the borrower to directly return the credit resources received from the bank, but also to pay for the right to use them. The economic essence of the loan fee is reflected in the actual distribution of the additional profit received through its use between the borrower and the lender. The principle in question finds its practical expression in the process of establishing the amount of bank interest, which performs three main functions:

1. redistribution of part of the profit of legal entities and income of individuals;

2. regulation of production and circulation through the distribution of loan capital at the sectoral, intersectoral and international levels;

3. at crisis stages of economic development - anti-inflationary protection of the cash savings of bank clients.

The rate (or norm) of loan interest, defined as the ratio of the amount of annual income received on loan capital to the amount of the loan provided, acts as the price of credit resources.

Confirming the role of credit as one of the goods offered on a specialized market, the payment of the loan stimulates the borrower to use it in the most productive way. It is this stimulating function that was not fully used in a planned economy, when a significant part of credit resources was provided by state banking institutions for a minimal fee (1.5 - 5% per annum) or on an interest-free basis.

Fundamentally different from the traditional pricing mechanism for other types of goods, the defining element of which is the socially necessary labor costs for their production, the price of a loan reflects the general relationship between supply and demand in the loan capital market and depends on a number of factors, including those of a purely opportunistic nature:

1. cyclical development of a market economy (at the stage of recession, loan interest, as a rule, increases, at the stage of rapid recovery, it decreases);

2. the pace of the inflation process (which in practice even lags somewhat behind the rate of increase in loan interest);

3. the effectiveness of state credit regulation, carried out through the accounting policy of the central bank in the process of lending to commercial banks;

4. the situation in the international credit market (for example, the policy of increasing the cost of credit pursued by the United States in the 80s led to the attraction of foreign capital to American banks, which affected the state of the corresponding national markets);

5. dynamics of cash savings of individuals and legal entities (with a tendency towards their reduction, loan interest, as a rule, increases);

6. dynamics of production and circulation, which determines the needs for credit resources of the relevant categories of potential borrowers;

7. seasonality of production (for example, in Russia the interest rate traditionally increases in August-September, which is associated with the need to provide agricultural loans and loans for the import of goods to the Far North);

8. the relationship between the size of loans provided by the state and its debt (loan interest steadily increases with an increase in domestic public debt).

Loan security

This principle expresses the need to ensure the protection of the property interests of the lender in the event of a possible violation by the borrower of its obligations and finds practical expression in such forms of lending as loans secured by collateral or financial guarantees. When giving a loan against collateral, the lender checks to what extent the pledged property meets the requirements, in particular whether its liquidity is ensured. The liquidity of such assets (inventory, equipment, machinery, inventory, vehicles, etc.) refers to the ability of assets to quickly turn into money.

As for the size of loans secured by property, it is set as a percentage of the market value of the collateral at the time of concluding the loan agreement. As a rule, the price of the collateral is slightly higher than the loan amount, which is necessary to compensate for the risk of loss, damage, changes in property prices, etc. If the borrower becomes insolvent, the lender has the right to sell the collateral to reimburse the borrower's debt and sales costs from internal funds. In this case, the remaining proceeds are returned to the borrower.

Loan repayment methods are important, so let’s consider them in more detail. The most common type of loan is a loan against inventories, since they are the most reliable collateral for a loan. The loan can be secured by goods and material assets, travel documents indicating the imminent delivery of certain goods, real estate, precious metals, etc.

Targeted nature of the loan

Applies to most types of credit transactions, expressing the need for the targeted use of funds received from the lender. Finds practical expression in the relevant section of the loan agreement, which establishes the specific purpose of the loan, as well as in the process of bank control over compliance with this condition by the borrower. Violation of this obligation may become the basis for early revocation of the loan or the introduction of a penalty (increased) loan interest rate.

Differentiated nature of the loan

This principle determines a differentiated approach on the part of a credit institution to various categories of potential borrowers. Its practical implementation may depend both on the individual interests of a particular bank, and on the state’s centralized policy of supporting certain industries or areas of activity (for example, small businesses, etc.)

Having examined the principles of lending, we can conclude that these principles are the main requirements when issuing a loan. If at least one of these principles is not observed, the opinion arises that the provision of a loan is not actually a loan.

The place and role of credit in the economic system of society are also determined primarily by the functions it performs, both general and selective.

The essence of credit is manifested in its functions. In turn, the function of credit is a manifestation of its essence, an expression of the social purpose of credit. By using the functions of credit, enterprises of various forms of ownership and society as a whole achieve production efficiency, acceleration of circulation and income growth. Finding out the functions of credit is of great practical importance, since this allows you to use it most effectively.

Credit performs the following three main functions:

1) distribution;

2) emission;

3) control.

The distribution function of the loan is to distribute funds on a repayable basis. It manifests itself during the accumulation of funds, as well as during their placement. Specifically, this function is manifested in the process of temporarily providing funds to enterprises and organizations to meet their needs for financial resources. Enterprises are thus provided with the necessary working capital and resources for investment.

The content of the emission function is to create credit means of circulation and replace cash. It manifests itself in the fact that in the process of lending, means of payment are created, i.e. Along with money in cash, circulation also includes money in non-cash form. The effect of this function also manifests itself when non-cash payments occur based on the replacement of cash.

The content of the control function is to monitor the efficiency of economic entities. The effect of this function is manifested in the fact that the farm that received the loan exercises comprehensive control over the ruble. It is on the basis of credit relations that monitoring the activities of borrowers and lenders is built, and the creditworthiness and solvency of enterprises is assessed. After all, any creditor - a bank or an entrepreneur - uses his own methods to control the condition of the borrower through a loan, trying to ensure timely repayment of the loan and prevent untimely repayment of the debt.

In credit transactions, the most important principles must be observed, i.e. the main rules that allow you to ensure return movement of funds. Based on these principles, the procedure for issuing and repaying loans and their documentation are established. These provisions and rules are determined by the nature, role, functions of credit and the specific social conditions in which they manifest themselves.

Bank lending to enterprises and other structures for production and social needs is carried out in strict compliance with the principles of lending, which represent the basis, the main element of the lending system. The principles of lending reflect the essence and content of credit, as well as the requirements of basic economic laws in the field of credit relations.

These basic functions of credit are, according to some authors, the most significant in the economy, since they play a major role. But no less important are the so-called “derivative” functions of credit: saving distribution costs, accelerating the concentration of capital, servicing trade turnover, accelerating scientific and technological progress.

Saving distribution costs

The practical implementation of this function directly follows from the economic essence of credit, the source of which is, among other things, financial resources temporarily released in the process of circulation of industrial and commercial capital. The time gap between the receipt and expenditure of funds of business entities can determine not only an excess, but also a lack of financial resources. That is why loans to replenish a temporary shortage of own working capital have become so widespread, used by almost all categories of borrowers and providing a significant acceleration of capital turnover, and, consequently, savings in overall distribution costs.

Accelerating capital concentration

The process of capital concentration is a necessary condition for the stability of economic development and the priority goal of any business entity. Real assistance in solving this problem is provided by borrowed funds, which make it possible to significantly expand the scale of production (or other business operation) and, thus, provide an additional mass of profit. Even taking into account the need to allocate part of it for settlements with the creditor, attracting credit resources is more justified than focusing solely on one’s own funds. It should be noted, however, that at the stage of economic recession (and even more so in the conditions of transition to a market economy), the high cost of these resources does not allow them to be actively used to solve the problem of accelerating the concentration of capital in most areas of economic activity. Nevertheless, the function in question, even in domestic conditions, provided a certain positive effect, allowing us to significantly accelerate the process of providing financial resources to areas of activity that were absent or extremely undeveloped during the period of the planned economy.

Trade turnover service

In the process of implementing this function, credit actively influences the acceleration of not only commodity circulation, but also money circulation, displacing cash from it, in particular. By introducing instruments such as bills, checks, credit cards, etc. into the sphere of monetary circulation, it ensures the replacement of cash payments with non-cash transactions, which simplifies and speeds up the mechanism of economic relations in the domestic and international markets. The most active role in solving this problem is played by commercial credit as a necessary element of modern trade relations.

Acceleration of scientific and technological progress

In the post-war years, scientific and technological progress became a determining factor in the economic development of any state and individual business entity. The role of credit in its acceleration can be most clearly observed using the example of the process of financing the activities of scientific and technical organizations, the specificity of which has always been a greater time gap between the initial investment of capital and the sale of finished products than in other industries. That is why the normal functioning of most scientific centers (with the exception of those receiving budgetary funding) is unthinkable without the use of credit resources. Equally necessary is credit for the implementation of innovative processes in the form of direct implementation of scientific developments and technologies into production, the costs of which are initially financed by enterprises, including through targeted medium- and long-term bank loans.

These "derived" functions of credit are just as important as the main functions. They play an important role in the economy.

Various forms of credit are used in the lending process. In modern conditions, the following forms of credit are sold on the market: commercial, bank, state, consumer, mortgage, interbank, inter-farm, international, etc. They differ from each other in the composition of participants, the object of loans, dynamics, interest rates and field of activity.

A commercial loan is provided in commodity form by sellers of goods to their buyers in the form of installment payment for goods sold or services provided. A commercial loan is used to speed up the sale of goods and is issued in the form of a promissory note - a bill of exchange, payable through a commercial bank. The object of commercial credit is, as a rule, commodity capital, which serves the circulation of industrial capital, the movement of goods from the sphere of production to the sphere of consumption. The peculiarity of commercial credit is that loan capital here merges with industrial capital. The main purpose of such a loan is to speed up the process of selling goods, and therefore speed up the receipt of the profit contained in them. It is important to note that the interest on a commercial loan, included in the price of the goods and the amount of the bill, is usually lower than on a bank loan.

In developed countries, commercial credit accounts for 20-30% of all credit transactions. In Russia, commercial credit and bill discounting were developed before 1917 and during the NEP period. However, during the credit reform of 1930-1932. commercial credit (mutual lending by enterprises to each other) was eliminated. At that time, it was believed that as the public sector of the economy grew and the foundations of economic planning were developed, commercial credit was a brake on the development of a planned national economy, since the practical influence of the state through the bank on the distribution of credit resources was limited. Commercial credit was not used in the USSR until 1988. Currently, in Russia and other states of the former USSR, commercial credit is allowed.

With the formation and development of a market economy, the use of commercial credit will expand. The subjects of a commercial loan are enterprises acting as a borrower. This means that specialized credit institutions (banks) in this case do not directly participate in the transaction. However, in practice, in most cases, a commercial loan is intertwined with a bank loan: the lender, having the borrower’s obligations - a bill of exchange, can take it into account in the bank and receive a bank loan against it. But this fact does not eliminate the main feature of a commercial loan - the lending of funds from one commercial structure to another.

Bank credit is provided in the form of cash loans by commercial banks and other financial institutions (financial companies, savings banks, etc.) to legal entities (industrial, transport, trading companies), the population, the state, and foreign clients. A bank loan exceeds the boundaries of a commercial loan in size. deadlines, directions. It has a wider scope of application.

A bank loan can be classified depending on the term of assignment (for current activities or investment) and the type of recipient.

Consumer credit is provided, as a rule, by trading companies, banks and specialized financial institutions for the purchase of goods and services by the population in installments. A consumer loan can be provided in both monetary and commodity forms: goods are purchased on credit or in installments in retail trade. A cash loan is obtained from a bank using funds for consumer purposes. With the help of such a loan, durable goods (cars, furniture, refrigerators, household appliances) are sold. The loan term is up to three years, the interest is from 10 to 25%. The population of industrialized countries spends from 10 to 20% of their annual income to cover consumer debt. In case of non-payment, the property is seized by creditors.

A mortgage loan is issued for the purchase or construction of housing or the purchase of land. It is provided by banks and specialized financial institutions. The loan is also issued in installments. The most developed mortgage loans are in the USA, Canada, and England. The interest on the loan varies depending on the economic situation and ranges from 15 to 30% or more.

A special form of credit is a state loan, in which the borrower (lender) is the state or local authorities, and the loan takes the form of a government loan sold through financial institutions, primarily through the Central Bank. This type of loan should be divided into government credit itself and government debt. In the first case, state credit institutions (banks and other financial institutions) lend to various sectors of the economy. In the second case, the state borrows funds from banks and other financial and credit institutions on the capital market to finance the budget deficit and public debt. At the same time, in addition to credit institutions, government bonds are purchased by the population and legal entities.

Interbank credit is provided by banks to each other when some banks have free resources, while others lack them. It should be noted that the size of loans from some banks (creditors) provided to other banks (debtors) is quite significant. Thus, according to data for 1997, of the total amount of credit investments, the share of this type of loans accounted for more than 20%.

The subjects of inter-farm credit relations are various enterprises and organizations that lend funds to each other. This type of loan is similar to a commercial loan. However, unlike a commercial loan, which is mainly of a commodity nature, when goods are sold with payment in installments, an inter-farm loan involves the provision of funds on loan. Such loans, in the form of financial assistance, can be received by enterprises in temporary financial difficulties from the corporation of which they belong, to carry out, for example, joint production programs.

International credit covers economic relations between the state and international economic organizations. It has both a private and public character, reflecting the movement of loan capital in the sphere of international economic and monetary relations. International credit exists in the form of both commercial and bank credit.

Thus, the forms of credit are closely related to its structure and to a certain extent reflect the essence of credit relations.

Commercial banks provide their clients with various types of loans, which can be classified according to various criteria.

First of all, the loan is classified according to the main groups of borrowers. The loan can be issued to the economy, the population, and government authorities.

Depending on the purpose or direction, loans are distinguished: consumer, industrial, trade, agricultural, investment, budget.

Bank loans are differentiated depending on the maturity of the loan.

With this classification, short-term, medium-term and long-term loans are distinguished. Short-term loans serve the current needs of the borrower related to the movement of working capital. Short-term loans are those whose repayment period, according to international standards, does not exceed one year. However, in practice, this period may not be the same, which is determined by economic conditions and the degree of inflation. Thus, in Russia in the 1990s, due to significant inflationary processes, short-term loans often included loans with a term of up to 3 months.

Short-term credit serves as one of the forms of formation and movement of working capital of enterprises. It contributes to the formation of their working capital, increases solvency and strengthens their financial position. Short-term loans are provided by banks for the formation of seasonal excess inventories of inventory, for seasonal costs associated with the production and procurement of products, temporary replenishment of the lack of working capital, etc.

As for medium-term and long-term loans, they serve long-term needs caused by the need to modernize production and make capital expenditures to expand production.

There is no established standard term as a criterion for classifying a loan as a medium-term or long-term loan. In the USA, for example, medium-term loans are loans whose repayment period does not exceed 8 years, in Germany - up to 6 years. There is also no uniformity in the length of the term for long-term loans.

In Russia, medium-term loans include loans with a repayment period of 6 to 12 months, and long-term loans are those whose payment period extends beyond a year. Dividing loans according to the duration of their functioning in the economy was justified, since in conditions of collateral, even short-term use of funds in the borrower's economy could lead to loss of capital safety. Strong inflation transformed ideas about the term of lending and changed the criteria for the term of lending to borrowers.

As a rule, loans that form working capital are short-term, and loans involved in the expanded reproduction of fixed assets are classified as medium- and long-term loans.

In addition to short-, medium- and long-term loans, there is a type of loan of special urgency - an on-call loan (from the English money of call - loan on demand), which is repaid on demand. It is issued by the bank to brokers, dealers and clients for ultra-short-term needs and is used, as a rule, for stock market speculation.

Loans are divided into large, medium and small by size.

By collateral - unsecured (blank) loans and secured ones, which, in turn, are divided by the nature of the collateral into collateral, guaranteed and insured.

Based on the method of issuance, bank loans are divided into compensation and payment loans. In the first case, the loan is sent to the borrower’s current account to reimburse the latter for his own funds invested either in inventory or expenses. In the second case, the bank loan is used directly to pay for settlement documents presented to the borrower for payment for the activities being financed.

According to repayment methods, a distinction is made between bank loans repaid in installments (in parts, shares) and loans repaid in a lump sum on a specific date.

The loan is classified by type depending on the fee for its use. There are paid and free, expensive and cheap loans. This division is based on the interest rate established for using the loan.

One of the reasons for the long-term stagnation of Russian small businesses is the absence of any effective system of credit support for small businesses. In 1999 - early 2000 For the first time in all the years of reforms, the most favorable conditions for the development of small businesses, especially production-oriented ones, were formed. But it was at this moment that small businesses in Russia found themselves practically “cut off” from long-term loans at an affordable interest rate, required not only to replenish working capital, but also, first of all, for long-term investments in the acquisition and modernization of fixed assets.

The small business lending system does not stand out in any way against the background of the extremely poorly developed Russian financial and credit infrastructure as a whole. Despite the fact that the names of many banks and specialized funds formally contain declarations of assistance to small businesses, in reality, an extremely limited number of such institutions are engaged in lending to small businesses. Their influence on the state of affairs in the field of small business is, to put it mildly, small. Of course, one cannot associate negative trends in the development of small businesses only with their lack of access to credit resources. Factors of administrative pressure (barriers to entry into the market, licensing, etc.), high taxes and many other reasons also have a negative impact. However, we believe that close interaction with credit institutions is the key to the formation of a modern or, as it is fashionable to say, a civilized appearance of small business.

Banks

It can be stated that currently the most effective institution for lending to small enterprises, including unincorporated entrepreneurs (IPBOLE), is the program of the European Bank for Reconstruction and Development (EBRD). The EBRD, together with “donors” - seven leading industrialized countries and other countries and organizations - allocated $300 million for these purposes, of which the EBRD - about half. Financial resources became the basis of the EBRD's Small Business Fund in Russia (SBSF) program.

The mechanism for issuing loans within the framework of the FSMB looks like this: the EBRD, represented by the Fund, provides long-term loans to Russian commercial banks, which, in accordance with the concluded loan agreement, are obliged to use the funds provided to them for lending to small businesses and private legal entities. Currently, the FSMB cooperates with five banks - four Russian and one bank with only foreign capital. These include: Sberbank of the Russian Federation, AB “Nizhny Novgorod Banking House” (Nizhny Novgorod), Far Eastern Bank (Vladivostok), Petrovsky Bank (St. Petersburg), as well as the Small Business Lending Bank (KMB-Bank) with foreign capital. For this work, they use branches and branches in 24 cities of Russia. FSMB provides its partner banks with extensive consulting support with the help of Western and Russian experts (the main consultant is the German company IPC GmbH), provides software, equipment, etc.

In accordance with the methodology for issuing loans defined by the FSMB, the bank must analyze the real economic situation of the borrower, and not just the collateral offered by it. In this case, loan collateral must cover 100% of the loan amount and interest on it. Banks can accept not only real estate, precious metals, deposits and other standard collateral as collateral, but also the borrower’s personal property. Throughout the entire loan period, the borrower is constantly monitored by an assigned credit expert. The most important provisions of the methodology include the requirement for rapid processing of loan applications: no more than 3 days should pass from the moment the application is submitted to the bank to the analysis at the potential borrower’s place of work. It is also important that when applying for a loan, a potential borrower is not required to provide a business plan.

Currently, the most effective work on the implementation of this program is carried out by Sberbank of the Russian Federation. Thus, out of 34 branches of the Moscow Bank of Sberbank of the Russian Federation, 15 over the past two years, directly acting within the framework of the program, issued more than 2,000 loans, of which 80% were microloans (up to 30 thousand dollars in ruble equivalent). Sberbank's credit policy assumes that loans of this kind are intended primarily to replenish working capital and therefore are issued for no more than a year. (Legal entities, that is, small enterprises as such, can receive loans in the amount of up to 125 thousand dollars in ruble equivalent, and for a period of 2 years. Such loans can already be used for investment needs.)

Restrictions on issuing loans apply only to certain areas of business activity: gambling business; production of tobacco products, alcoholic beverages; securities trading operations. The interest rate cannot be called preferential, but nevertheless there is still a certain demand for such Sberbank loans, which is due to the relative ease of obtaining them. At the Moscow Bank of Sberbank of the Russian Federation, only 20% of those who apply for a loan are refused.

KMB-Bank was created on the basis of the Russian Project Finance Bank specifically for the implementation of the EBRD program as a bank with only foreign participation. The main shareholders of KMB-Bank are the EBRD and the non-profit organization Soros Economic Development Fund (FEDS). Along with Moscow and the Moscow region, KMB Bank actively lends to small businesses in St. Petersburg, Nizhny Novgorod, Novosibirsk, Omsk, Samara, Togliatti, Barnaul, Yekaterinburg and Tomsk. The maximum loan amount in this bank is set at 155 ts. dollars for a period of 2 years, that is, these loans can be used for investments in equipment, subject to a quick payback of investment projects. The bank's declarations of support for small businesses are combined with a strict focus on obtaining maximum profits. It follows from this that lending to Russian small enterprises, if properly organized, is a very profitable business, if only because in Europe the interest rate for similar loans is at least one and a half times lower. The activities of this bank can be considered as a kind of benchmark, showing Russian banks how to intelligently lend to small businesses.

Among the Russian banking institutions that are actually involved in lending to small businesses, one can name JSCB Probusinessbank, but the number of small loans issued to them is small, the loan is issued at a standard interest rate and collateral. Lending to small enterprises is only an auxiliary activity for the bank. The percentage of refusals for loan applicants is significantly higher than at Sberbank. The bank's credit policy treats lending to small businesses as a promising area of ​​activity that may become attractive in the future.

It should be especially emphasized that the bank requirement for collateral obviously “cuts off” “venture” entrepreneurs from the loan. As a rule, they do not have production facilities or office equipment, and they often have poor personal property. But it is precisely such entrepreneurs who need a loan more than others. Most often, other - non-bank - small business lending institutions are needed here.

Having considered all the above options for lending to small businesses by different banks, we can conclude that the policies of banks are aimed at helping small businesses. This is evidenced by the size of the loans issued, the terms (although they are not long, things have moved forward), interest rates and restrictions on the issuance of loans. The bad thing is that their clients did not include “venture” entrepreneurs.

Entrepreneurship support funds

The nominally effective infrastructure link in the sphere of lending (financial support) for small enterprises was to become specialized funds for supporting small businesses. They are legally entitled to engage in lending activities. Thus, lending to small enterprises is provided by the Federal Fund for Support of Small Enterprises (FPSE). In 1998, FPMP, through partner banks, provided about 8 thousand loans to small businesses in the amount of about 120 million dollars, in 1999 - about the same, but for an amount half as much. In 2000, FPSE reached pre-crisis lending volumes, which is largely associated with an increase in demand for loans from manufacturing SEs. Of course, the volume of lending to small businesses within the framework of the FPSF, taking into account the total number, is difficult to consider significant; the main burden here falls on regional support funds.

There are positive examples of lending activities of regional funds for supporting small businesses. Thus, in the Sverdlovsk region, 15 municipal funds provide microcredit to small businesses. The main borrower is SE and PBOLE engaged in trading activities. Loans are issued for a maximum of 2-3 months. Most often, borrowers take them out for working capital for 1-2 weeks. Applying for the first loan takes on average 5 days. Re-credit can be received within an hour. Loans are provided without collateral, in the absence of a borrower’s credit history, even with the understanding that the activities of small traders are classified as “opaque.” However, the loan repayment rate is close to 100%. Of course, loans are not issued to everyone, but only to “verified” entrepreneurs. In addition, the practice of “close contact” with the borrower is used: the latter pays interest on the loan every 3-4 days, even if the amount is small. But the main thing is a kind of “mutual responsibility” (not property, but workshop responsibility) of those who are engaged in this type of business in the Sverdlovsk region. It is more important than formal credit histories.

The uniqueness of the Sverdlovsk experience lies in its fairly wide coverage of MP. Most funds provide loans to at most several dozen enterprises, which, as a rule, amounts to a fraction of a percent of the total number of those wishing to receive a loan. The vast majority of Russian regional funds for supporting small businesses, accustomed to constant budgetary “feeding,” currently do not have the funds to organize lending on an economically significant scale.

Mutual lending societies

Another organizational form of lending to small enterprises can be mutual lending and mutual insurance societies. However, there is no legal foundation for their activities, which is a consequence of the lack of a law on such societies. The draft law “On consumer societies for mutual lending and mutual insurance” has been blocked for several years now by a strong banking lobby that is preventing banks from having viable competitors in the credit market. Currently, consumer societies for mutual lending and mutual insurance (MCI) are either not registered at all, or are registered as small enterprises or even as divisions of public organizations. This is not so important for them, since all their activities rely entirely on their own funds, formed from membership and share contributions of participants. The operating principle of the UWC is similar to the operating principles of the “mutual aid” cash desks at local trade union committees at Soviet enterprises. To obtain a loan from UWC, as a rule, no collateral is required, and the interest rate only covers the minimum overhead costs. Naturally, only UWC members can receive such loans.

Nowadays it is not so easy to form even a small team of entrepreneurs in which everyone would vouch for everyone else. The possibility of someone misappropriating the company's cash register is quite high. That is why UWC’s credit resources are extremely small and are designed to satisfy only the most pressing financial needs of entrepreneurs. Few HWCs have officially declared themselves. Thus, the National Association of Mutual Financial Assistance Organizations, established by the Guild of Merchants and Industrialists of Russia, in Moscow includes only 4 such societies. Again we have to state that there is a phenomenon of local lending to small businesses, but nothing more.

Foreign experience shows that UWCs are not a sustainable element of the credit system. Their occurrence is most often associated with banking “failures” or simply with a temporary crisis state of the financial and credit system. When the functioning of this system is normalized, one part of the UWC is transformed into banks or other credit institutions, the other simply ceases its activities. Nevertheless, while the financial infrastructure in Russia is not so strong, UWC should play a much more significant role in the financial support of small business structures. In addition, in many cases, a developed network of such societies is an effective intermediary between small businesses and banks.

Mutual lending societies can play a significant role in lending to small businesses, but at this stage in the Russian Federation this is not the case. Their activities depend on the legal framework, which does not yet exist in the Russian Federation, and on the scale and scope of lending.

Having examined the activities of organizations lending to small businesses, we can conclude that today the most accessible way to obtain a loan is bank lending.

Guarantees and pledges

The creation of a guarantee system that would expand the possibilities of bank lending for various categories of Russian small enterprises was envisaged by the Federal Small Business Support Program of 1994-1995, then by the program of 1996-1997, but was never fully implemented (today only a few regional schemes of this kind are in operation kind). Obviously, the most important issue related to resolving this problem is the issue of the guarantor - the “risk holder” for loans to small businesses. There are four possible options here.

The first option is that commercial banks (as a rule, having strong financial backings) at their own peril and risk, using their technologies, make decisions on lending to small businesses. But today such banks are rather an exception; for the most part, credit institutions do not trust small businesses, not taking on the risks of possible losses due to non-repayment of loans.

The second option is that guarantees for bank loans to small businesses are provided by specialized funds and other small business support institutions. That is, the financial resources of the funds should not be directly lent to individual entrepreneurs, but become collateral for commercial loans. Such functions should be performed primarily by regional funds to support small businesses. However, the obstacle here is the scarcity of financial resources of the latter, associated with insufficient budget funding.

The third option is that guarantees for loans to small enterprises operating in socially significant sectors of the Russian economy or taking part in the implementation of government orders are provided by the state. This option is “workable,” but its role in terms of supporting the small business sector as a whole cannot be significant, since the scope of attracting small businesses in the process of contracting for government orders is very limited, although it can and should be significantly expanded.

Finally, the fourth option is the creation of commercial loan guarantee schemes for small businesses (selling guarantees as a form of capital investment in the hope of some profit). Such schemes actually “work” in economically developed countries, but in Russia they are not applicable, primarily due to particularly high risks and low lending volumes.

The development of bank lending to small businesses is also hampered by the lack of adequate collateral legislation and infrastructure for the sale of collateral. When following current legislation, collateral is generally sold for no more than half its actual value. The sale of collateral is carried out through a system of tenders, which causes a sharp decrease in its price due to poor organization of the auction. Therefore, lending banks require potential borrowers to provide 200 percent collateral for the loan.

Nobody wants to take on the risks of lending to small businesses, so there is stagnation here, but there are also prospects for development. Although conditions for development have also not been created, for example, the lack of collateral legislation and infrastructure for the sale of collateral.

Leasing as a form of small business lending

Financial leasing, which is essentially equivalent to long-term lending, can become a special form of lending to small businesses. As a result of a leasing transaction, the lessor acquires ownership rights to a certain product (equipment) from the manufacturer and leases it to the lessee. A financial leasing agreement is concluded, as a rule, for the standard service life of the property transferred under leasing (taking into account the norms of simple or accelerated depreciation). Until the expiration of this period and completion of the payment process, the lessor retains ownership of the leased object.

In countries with developed market economies, leasing operations currently account for approximately 30% of all investments in fixed assets. In Russia, the share of leasing in total investment in 2000, according to some estimates, reached about 3 - 5%. Formally, several hundred leasing companies are registered in Russia. At the same time, there is a huge concentration of the leasing services market: the largest leasing companies concentrated in Moscow control approximately 70-80% of this market. Leasing companies operating on the Russian market are “tied” to sources of financing, so they are either subsidiaries of banks or industry companies (or have state or municipal support (“Moscow Leasing Company” - MLK). By the way, the activities of the latter are usually cited as an example A significant number of Moscow small enterprises producing food products, building materials, printing products, providing medical, photographic and other services operate on equipment supplied by MLK.The terms of financial leasing contracts in MLK are up to 2-3 years.

Protection of a leasing transaction includes an insurance collateral payment made by the company itself, equipment insurance, and a pledge of property, including real estate. In addition, monthly rental payments allow you to control the financial condition of the lessee. The leasing agreement provides for the conditions under which the lessor can take possession of the property if the lessee fails to fulfill the relevant obligations within a certain time.

The experience of MLK indicates the high efficiency of leasing as a mechanism for financial support for small enterprises. It was developed in the new Program for the Development and Support of Small Business in Moscow for 2001 - 2003. Leasing will become cheaper, the structure of potential leasing objects will expand, the practice of “package services” will develop, when the receipt of leasing services will be accompanied by the provision of production premises on one basis or another, training and technical support, etc. But the experience of MLK is undoubtedly unique and not can become widespread, since it is based on the developed organizational infrastructure for supporting small businesses in Moscow. If infrastructure of this level existed in other Russian regions, the prevalence and availability of leasing services for small businesses would be much greater.

An important aspect of the legal regulation of leasing relations is the legal consolidation of various types of benefits enjoyed by the participants in these relations. Among them is the right to accelerated depreciation of property received under leasing (up to a threefold increase in annual depreciation write-offs for the active part of fixed assets), which allows limiting the term of the leasing agreement to 2 - 3 years. Regional tax benefits, as a rule, apply to the leasing of certain types of property, in particular, equipment for the agricultural sector.

Thus, leasing can become the most effective way to expand lending to small businesses. Moreover, it contributes to the development of small manufacturing businesses. However, the widespread use of leasing is hampered by the limited financial resources of leasing companies. What way can be proposed to solve this problem?

The Federal Fund for Support of Small Business, on the initiative of the TACIS program, has developed several project options, including the formation of a system of credit guarantees and the development of a leasing form of investment in small businesses. The problem of the shortage of credit resources in the Russian leasing services market is solved by attracting financial resources from Western credit markets. Of course, every single investment project of Russian small business, even the most promising, is extremely small and risky for European creditors. The advantage of the proposed lending system is that it makes it possible to create an institutional and financial scheme that turns a set of small Russian investment requests into one large European investment project.

As a result of the implementation of this project, the regional structure for supporting small businesses will receive an additional development stimulus, primarily in the form of guarantee agencies specializing in working with small businesses of leasing companies. Western credit resources will begin to regularly flow into the regional segment of the Russian economy. The structure of the project assumes a high degree of protection of all invested capital and a “fair” distribution of risks among all project participants, including Western investors. The participation of regional authorities in the implementation of the project can give support to small businesses a truly holistic or, as experts say, “package” character.

An important component of the implementation of this project should be marketing support. Regional institutions for supporting small businesses, while positively regarding participation in the leasing support scheme for small businesses, had very limited ideas about what the potential demand (in terms of volume and structure) for this type of leasing services is, what are the acceptable leasing conditions, what additional factors are required for implementation investment projects, what is the difference in the demand for leasing services from “start-up” and existing small businesses, etc. Therefore, special studies are needed to predict the needs of Russian small businesses for leasing services and clarify the place of leasing in the overall system of measures to improve financial support for small businesses as the most important component of a modern market economy.

Leasing is a good form of lending to small businesses, but so far it has only been developed in Moscow. If such a system existed in the regions, then the prevalence and availability of leasing services for small businesses would be much greater. But even in Moscow there are problems - the limited financial resources of leasing companies. The positive aspect is that participants in leasing relations are legally entitled to various benefits.

At the beginning of 2002, there were about 880 thousand small enterprises operating in Russia. Per 1000 people of the country's population, there are on average only 6 small enterprises, while in developed Western countries there are at least 30. The number of people employed in small enterprises amounted to 7.6 million people, and taking into account individual entrepreneurs - 11.6 million people . Despite the emerging trend of production growth, their contribution to GDP does not exceed 12%. The current industry structure in terms of the number of employees shows that small businesses (SE) are developing mainly in the field of trade and public catering (32.4% of the total number of employees of all small enterprises), in industry and construction, respectively, 15.3 and 14.4 %, in innovative small businesses - 2.5%. The distribution of small enterprises and the number of employees in them across Russia is extremely uneven. (Table 1)

Table 1 - Distribution of small enterprises and the number of employees in them in Russia

Federal District of the Russian Federation

Number of small businesses (thousands)

Average number of employees (thousand people)

Central

Northwestern

Privolzhsky

Ural

Siberian

Far Eastern

Total for the Russian Federation

Note - Small businesses need support // Banking. 2002 No. 6. – p.15.

The largest number of small enterprises are located in the Central Federal District (35%), but in the district itself there is even greater differentiation of such enterprises by region. If in the Smolensk, Oryol, and Kursk regions there are 2.5 thousand, 2.6 thousand and 2.8 thousand, respectively, then in Moscow there are 180 thousand, in the Moscow region there are 46 thousand small businesses.

Over the past 10 years, Russia has not developed a more or less coherent and well-functioning credit and financial system for supporting small businesses.

The existing point of view that banks are not interested in lending to small businesses is refuted by current practice. Medium and small banks now lend mainly to small businesses. The Association of Regional Banks of Russia, with the participation of the Institute of Socio-Economic Analysis and Entrepreneurship Development, conducted a survey of banks on the issue of lending to small businesses. Thus, 46% of banks have their own credit policy in relation to small businesses. In 2001, the share of loans issued to small businesses and entrepreneurs without a legal entity (PBOLE) increased by 83% of banks and only by 17% of credit organizations. This share has not changed or decreased. Small enterprises carry out external borrowings mainly from regional banks. The structure of SE borrowings in 2002 from regional banks of the Russian Federation is as follows. (Table 2)

Table 2 - Structure of borrowings of small enterprises in 2002 from regional banks

purchase of raw materials and materials

re-equipment of production

expansion of production

debt repayment

to suppliers

The absolute majority of small and medium-sized regional banks in their resource base as of January 1, 2002, had a share of loans for the development of medium and small businesses of over 90%, including small businesses - more than 45%. And yet, investment and credit cooperation between regional banks and small businesses is not sufficiently effective and durable. This is hampered by the general economic situation in the country, an unclear state policy in the development of small businesses, and the small capitalization of commercial tanks. The lack of an information base on the credit histories of borrowers remains a limiting factor in the development of small enterprises.

Currently, regional banks are striving to provide financing for small enterprises for a more complete production cycle. The actual structure of the banks’ loan portfolio by terms of lending to small businesses as of August 1, 2001 is as follows:

up to 3 months - 18.6%;

from 3 months to 1 year - 48.5%;

from 1 year credit line

(actually allocated funds) - 9.6%;

overdraft -7.0%.

Note - Small businesses need support // Banking. 2002 No. 6. – p.16.

This period of development of small enterprises is characterized by a higher share of small enterprises engaged in trade and public catering, then industry, construction and transport. The structure of the loan portfolio of regional banks for small enterprises corresponds to this orientation:

trade and catering - 62.8%;

industry - 17.3%;

construction - 4.0%;

transport - 4.0%;

other industries - 12.1%.

Note - Small businesses need support // Banking. 2002 No. 6. – p.16.

This structure of the loan portfolio is explained not only by the immaturity and unreliability of small businesses, but also by the poorly developed legislative framework for the activities of both banks and small businesses, and the lack of legal guarantees for loan repayment.

Small business entities are mostly serviced by regional medium-sized and small banks and form the backbone of the client base. However, when lending, banks face a number of problems, the existence of which does not allow them to fully provide financial support to small business entities. Most enterprises use a simplified system of accounting, reporting and taxation, as a result of which it is impossible to fully analyze financial and economic activities and the value of existing property. In this regard, it is necessary to quickly adopt a law regulating the creation of credit bureaus and their activities in creating an information base of borrowers’ credit histories at both the federal, interregional and regional levels.

Also, most small businesses do not have their own funds required as collateral. In this regard, banks do not have a reliable guarantee of loan repayment. In addition, according to the Instruction of the Central Bank of the Russian Federation No. 62 "On the procedure for the formation and use of reserves for possible loan losses", loans due to these factors should be classified as a higher risk group with the creation of a reserve for possible losses from 20 to 100% of loan amount, which worsens the bank’s financial performance. As a result, the existing guarantee system in Russia is initially aimed at providing support to those enterprises that can provide the necessary collateral, but for most small enterprises this is not available. At the same time, a guarantee, which is not a form of security, provides greater opportunities for debt repayment than a pledge, since the guarantor is liable to the bank with all of his property, and not just the pledged property.

To solve this problem, according to the Council of the Association of Regional Banks of Russia, it is necessary, first of all, to create a system of guarantees for bank loan investments: the federal center and local authorities form a target guarantee fund from the budget to ensure bank investments with a limit of guarantees per business. project.

The second important task is to create conditions for reducing the cost of loans themselves for small businesses.

The third direction in creating a credit and financial mechanism for small businesses should be the development of non-governmental non-banking organizations that should provide microfinance. They should support small businesses by providing them with small funds for a short period of time. The activities of such credit institutions may be under the patronage of regional commercial banks. In this case, bank loans will be used to replenish the lending funds of credit organizations (cooperatives).

The current structure of the credit system of the Russian Federation is approaching the model of the credit system of industrialized countries.

Having considered all current lending methods, we can draw conclusions.

In Russia, non-bank credit institutions are poorly developed, as a result of which there is a so-called monopoly of banks on loans.

Carrying out lending on the terms of urgency, repayment and secured, regulating the relationship between the lender and the borrower through a loan agreement (agreement), banks and credit organizations strive to provide loans to reliable clients in order to eliminate the risk of non-repayment and ensure timely return of issued funds.

The microcredit program is designed to provide small businesses and entrepreneurs with a reliable and stable source of financing for business development. Particular attention is paid here to enterprises that until now have not had access to banking services, and in particular to lending. In the context of the ongoing payment crisis, business downtime, and the state's chronic wage arrears, small businesses arose where the opportunities of large businesses were limited. They can play an irreplaceable role in the development of scientific and technological progress: the desire to withstand competition pushes them to actively use patents, licenses, and introduce new technological developments. The task of credit institutions is to provide small businesses with loans to replenish their working and fixed assets.

It should be noted that in some cases there is no legal basis for lending, which is a more complex problem than any other. The lack of an information base on the credit histories of borrowers remains a limiting factor for the development of small businesses.

Possible ways to solve these problems are seen in the development of a regulatory framework, attracting financial resources from Western markets and creating a collateral system.

But we can also highlight positive aspects - this is the possibility of further development of leasing, the development of mutual lending societies, a collateral system, the possibility of attracting resources from the Western credit market.

The stability of the credit system of the Russian Federation and the growth of its quality indicators should be priority goals for our state, since without a well-functioning lending mechanism, sustainable development of the country's economy is impossible.

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Bukhvad E.B., Vilensky A. Lending to small businesses // Economic Issues -2001. - No. 4. – From 92 – 99.

Bukhvad E.B., Vilensky A. Lending to small businesses // Economic Issues -2001. - No. 4. – From 92 – 99.

Most people around the world know firsthand what credit is. In many countries, having a credit card is a normal everyday occurrence, let alone taking out loans to buy a car or home. Russians are also actively using the offers of banks; the volume of loans issued is slowly but surely growing. What about foreign guests? Can they take part in this credit rush? Let's try to figure it out and find out how accessible loans are for foreigners in Russia.

What to do when you urgently need money, but you don’t have enough personal funds? Perhaps the first thing that comes to mind for most citizens is to turn to relatives/friends/neighbors/colleagues for help. And with a high degree of probability, there will be someone among them who will be ready to borrow the required amount. But the Good Samaritan may not show up, and then, as they say, saving drowning people is the work of the drowning people themselves. In such situations, the only way out is to get a loan.

The essence of this process is that the lender (bank or other financial institution) issues the required amount under certain conditions. Urgency, payment and repayment - these are the terms used by economic science. In the great and powerful, but accessible Russian language, these conditions are formulated as follows:

• the loan is issued for a period specified in the agreement;
• interest is charged for the use of borrowed funds;
• borrowed money must be returned to the lender.

Legislation

By and large, all legislative acts are related to each other in one way or another. And if you try to list all the laws that mention credit relationships, the list will be very, very impressive. Therefore, let's limit ourselves to only the main documents regulating relationships in this area:

1. Civil Code of the Russian Federation.
2. Tax Code of the Russian Federation.
3. Federal Law of December 21, 2013 No. 353-FZ “On consumer credit (loan)”.
4. Federal Law of July 16, 1998 No. 102-FZ “On Mortgage (Pledge of Real Estate).”
5. Federal Law of December 2, 1990 No. 395-1 “On Banks and Banking Activities.”
6. Federal Law of July 19, 2007 No. 196-FZ “On Pawnshops”.
7. Federal Law of July 2, 2010 No. 151-FZ “On microfinance activities and microfinance organizations.”

Conditions for issuing a loan to foreigners

We need to start with the fact that the Federal Law of July 25, 2002 “On the Legal Status of Foreign Citizens in the Russian Federation” is divided into three categories:

Citizens of Tajikistan also show great interest in the Russian Federation. Typically, the main reason for migration is related to employment. It has long been no secret that Tajiks take on almost any job, receiving very modest pay. Taking out a loan is a completely acceptable option to improve your financial situation. True, this is not as easy a process as we would like. However, it can be significantly simplified if you contact companies that provide assistance in obtaining loans for citizens of Tajikistan.

Kyrgyzstan is another Russian partner in the post-Soviet space. The flow of migrants from this country also remains consistently high and is unlikely to decline. People's goals are still the same: education, work, citizenship. Most often, migrants are hired for positions with low wages, which cannot even cover necessary expenses. Everyone gets out as best they can: some return home, while others fight with financial problems. If the second path is chosen, then a loan or microloan for citizens of Kyrgyzstan (Kyrgyzstan) becomes a completely logical solution.

Russia strives for mutual understanding in the world in general and in the expanses of the former USSR in particular. However, over the past years, friendship with our once faithful comrade - Ukraine - is literally bursting at the seams. Despite the fact that this is a matter of politics and diplomacy, the current situation in one way or another affects the population of both countries. The pressing problems and needs of people have not gone away: Ukrainians also go to Russia, and Russians go to Ukraine. However, against the backdrop of an open conflict, doubts are increasingly arising about whether a Ukrainian can take out a loan in Russia.

The financial situation of migrants, including those from Ukraine, is almost always quite difficult, which explains the popularity of loans. But when there are disagreements at the state level, the question inevitably arises of how this will affect citizens who find themselves in “enemy” territory. Due to the circumstances described, many do not know how a citizen of Ukraine can apply for a loan in the Russian Federation and what pitfalls to expect.

Here it makes sense to make a couple of comments so that foreign guests do not waste their nerve cells in vain. Firstly, as practice shows, Russia does not have the habit of projecting foreign policy disputes onto the citizens of an opposing country. And secondly, the bank is interested primarily in the solvency and reliability of the borrower, and not in his nationality.

Foreigners who have received a residence permit

As mentioned above, this group of foreign citizens is called permanent residents of Russia. They pose, if not minimal, but certainly less risk than those temporarily staying. This is due to the fact that the former, unlike the latter, have been in the Russian Federation for quite a long time and are holders of a residence permit.

What kind of document this is and what it looks like can be found here: .

In fact, the owners of a residence permit are almost citizens of the Russian Federation, but this “almost” does not suit all banks, because from their point of view, a person with a residence permit is much more reliable than a foreigner with a residence permit. Be that as it may, a foreigner permanently residing in the Russian Federation still has a chance to get a loan. True, you will most likely have to collect a bunch of additional documents and come to terms with an increased interest rate.

Where to get a loan

It is logical to assume that the frequency and amount of loans issued are higher where it is more expensive to live. We are talking primarily about the largest cities of the Russian Federation - Moscow and St. Petersburg. Strictly speaking, everything is clear with Moscow: it is the main city of the country, and life in the capital a priori cannot be cheap.

What can you say about the northern capital? Moscow and St. Petersburg have always been like two different, but equally attractive worlds. The differences are noticeable in everything from urban architecture to the habits and behavior of residents. However, the economic sphere is no exception; often the same operations and transactions are implemented in different ways. For example, it may turn out that it is easier and faster for citizens of Belarus to obtain a loan in St. Petersburg than in Moscow.

Online lending

The development of technology has brought a lot of opportunities. Now you can do a lot online: pay bills, make purchases, order tickets, communicate on social networks. In the wake of the Internet craze, the term “online loan” appeared. But let's figure out what we're talking about and whether this usage is correct.

The process of issuing an online loan looks like this:

• a potential borrower submits an application to the bank via the Internet, attaching copies of the necessary documents (usually a passport and another document that can be selected from the list provided);
• the bank responds to the application in the same way;
• If a positive decision is made, the client is invited to come to any bank branch and receive a cash loan or credit card. Some banks are so customer-oriented that they are ready to deliver the card to the borrower’s home.

Most banks indicate Russian citizenship among the main conditions. Seeing such a requirement, many are interested in whether, for example, it is realistic for a citizen of Kazakhstan or any other country to take out an online loan in Russia. The answer is: until you submit your application, you won’t know.

It is not in vain that banks request documents and review them. They can not only refuse without explanation, but also, on the contrary, meet the borrower halfway. There is no need to be afraid; a foreign citizen can safely submit an online application for a loan (as this is not prohibited) and wait for a response. Based on the results of the review, it will become clear what to do next: enjoy the approved loan or look for another bank.

Which banks lend to foreign citizens

The post-Soviet space is, of course, fertile ground for the development of cooperation and interaction. And it must be said that states are not wasting time: in addition to the CIS, another alliance was formed - the Eurasian Economic Union. Initially, the Treaty on the Eurasian Economic Union of May 29, 2014 was signed by three states - Russia, Kazakhstan and Belarus. A little later, Armenia (October 10, 2014) and Kyrgyzstan (December 23, 2014) joined it.

The very existence of such an agreement indicates a special relationship between its participants, including in matters of issuing loans. This means that it is quite natural to ask which Russian banks provide loans to citizens of Armenia, Belarus, Kazakhstan and Kyrgyzstan on preferential terms. But alas, for banks, representatives of these countries are the same foreign citizens as, say, Norwegians or Portuguese, therefore the conditions for issuing loans will be similar.

Let's return briefly to a special topic - Russian-Ukrainian relations. We have already mentioned the fundamental possibility of issuing loans to Ukrainians, now the next step is the banks that provide loans to citizens of Ukraine. As is the case with representatives of other countries, there are no such special institutions. If a bank provides loans to foreign citizens, then Ukrainians are naturally among the potential borrowers. Perhaps, dividing clients into groups like “citizens of Ukraine” and “all other foreigners” would be ridiculous and even offensive.

However, neither Russian legislation, nor, especially, the banking sector has ever made any attempt to tie foreign borrowers to specific lenders. A bank that conducts credit transactions with migrants is a universal institution where citizens of Tajikistan, other CIS countries, Europe, Asia, and indeed representatives of any country in the world can get a loan. A foreign citizen himself has the right to independently choose where to apply for a loan.

And now we come to the most interesting thing: which banks are ready to lend to overseas guests? Is, for example, a loan available for foreign citizens at Sberbank, which is considered the most stable participant in the banking services market? Unfortunately, it is impossible to answer the questions posed unambiguously.

Yes, banks provide information about their services in the media, the Internet, and the now fashionable social networks. And in most cases, a mandatory requirement for issuing a loan is Russian citizenship. In fact, it may turn out that the bank is still considering the possibility of providing borrowed funds to foreigners. Therefore, in this case, you will have to conduct reconnaissance in force: call/write/go directly to the bank or send out online applications and wait for answers.

Documentation

It is worth noting that the lender independently develops a list of documents that will need to be collected.

The main list looks like this:

• passport or a document replacing it (mandatory requirement: the document must be translated into Russian and notarized);
• RVP or residence permit;
• or visa;
• a copy of the work record book (must be certified by the seal and signature of the employer);
• copy ;
• (this can be either a standard 2-NDFL certificate or a certificate drawn up according to the bank’s form);
• documents giving the right to , - or .

Important: if a Russian applying for a loan is a legal member, most often banks require the notarized consent of the spouse of the potential borrower. Most likely, the same rules will apply if you need to get a loan to a family where the spouse is a foreigner.

If you have income in another country

If a foreign citizen receives any income in another country, supporting documents will be required. Most likely, certificates, extracts and similar papers will be drawn up in the language of the country that issued them. This type, of course, will not suit the bank, so the foreign citizen will have to have the documents translated into Russian and have it notarized.

What are loans?

Banks do not get tired of developing more and more new products taking into account the interests of specific groups of the population. Thus, credit offers for young people, pensioners, military personnel, and so on have appeared relatively recently. In this part of the article we will look at the most popular types of loans.

Consumer loan

This loan has other names: loan for any purpose, for urgent needs, cash loan. However, the imagination of bank marketers is limitless, and it is possible that new variations will soon appear. However, this does not change the essence.

Such a loan is indeed available for almost any purpose. Having received money from the bank's cash desk, the borrower can use it at his own discretion: for example, renovating an apartment, making an expensive purchase, or going on a trip. The bank does not care at all what the money is spent on, the main thing is that the borrower makes monthly payments on time and pays off the debt.

Despite the fact that a consumer loan for foreign citizens is just as relevant (and sometimes vital) as for Russians, not every bank is ready to meet them halfway. Most likely, the lender will offer to find a guarantor, a citizen of the Russian Federation, or provide some kind of security. If neither one nor the other is found, the loan will most likely be denied.

There is an alternative option: the potential borrower will be offered such an interest rate that he will voluntarily refuse to enter into an agreement. Do not forget that the lender is not obliged to maintain a dialogue with the client; he can reject the loan application without giving reasons.

Applying for a credit card

Getting a credit card is an alternative to a cash loan. In this case, the money is not issued to the borrower at the cash desk; the bank transfers the loan to the card. The amount specified in the agreement is called the credit limit.

A person can use a credit card to pay for purchases and services, but on the date specified in the agreement there must be an amount on the card that corresponds to the credit limit. In other words, the borrower is obliged to repay expenses made through a credit card on time. The general trend for issuing is the same as for classic loans: banks, although rarely, issue credit cards for foreigners with a residence permit, while such lending is not available for foreigners temporarily staying in the Russian Federation.

Car loan

This is a loan that is issued for the purchase of a car, and the bank sets strict conditions:

• availability of a CASCO insurance policy (in case of damage or theft);
• The car is pledged to the bank until the debt is repaid.

In most cases, such loans are issued at car dealerships and the borrower does not see “real” money: the funds are transferred from the bank account to the account of the seller-car dealership.

Microloans

Another type of loan is the so-called microloan, also known as a quick loan, or microcredit. Its distinctive features include:

Microloans are a lifeline for those who urgently need money and do not have time to wait for a response from the bank. However, if the bank has already reviewed the application and refused, the person can also try his luck at a microfinance organization. On the one hand, this is a chance to get a cash loan here and now, but at the same time, such an opportunity is a very expensive pleasure, since you often have to pay extortionate interest rates for using the money.

Obtaining a loan from a pawnshop secured by property

Pawnshops can also provide funds for temporary use at interest. In this case, money is issued only on condition of collateral of any property.

The loan agreement is drawn up in the form of a pledge ticket, which must indicate:

• personal data of the borrower (full name, date of birth, information about citizenship and document, address);
• name of the property being pledged;
• interest rate;
• loan term (cannot exceed one year).

As in the case of banks, the law does not prohibit entering into transactions with foreign citizens. Whether to provide loans to foreigners or not is a question that each pawnshop decides independently. In addition, if an overseas guest suddenly disappears without paying the debt and interest, the pawnshop can sell the pledged property.

Mortgage

The essence of such a loan is as follows: the bank provides funds for the purchase of real estate, which remains pledged until the borrower pays off the debt. In economics, this is called collateral for a loan. In other words, while a citizen is in the status of a borrower, any real estate transaction is possible only with the consent of the bank. A classic mortgage assumes that the purchased property is pledged as collateral. However, in many cases, people prefer to leave other real estate they own as collateral. In the case of foreigners, the first option is more likely, because most often they get involved with a mortgage loan due to lack of housing. Such lending to foreigners is relatively safe for banks, since in case of unforeseen circumstances they can sell the mortgaged property and cover the debt.

Loan for a foreigner in the Russian Federation: how to get it

If you conduct a survey about people’s attitudes towards loans, opinions will be divided. Some people are calm about this phenomenon, some recognize it as the only possible solution in emergency situations, and some prefer not to come into contact with it. Nevertheless, people take, have taken and will continue to take loans.

Since we are talking about foreign citizens, let's talk about how a foreigner can get a loan in Russia. The general procedure consists of several stages and is practically no different from the one that applies to Russians.

Briefly, the algorithm of actions is as follows:

• filing an application;
• preparation of documents (if approved);
• transfer of documents to the bank for verification;
• concluding an agreement and issuing a loan.

Of course, this is a very enlarged diagram of the process; each stage may have its own characteristics and caveats.

More complete information and step-by-step guidance are presented in the material about.

Conclusion

It is quite difficult for foreigners to get a loan in Russia. For banks, a foreign borrower is obviously a high risk. If a person goes home or simply disappears from sight, it will be almost impossible for the bank to return the money. However, if a foreign citizen works in Russia, receives an official salary and is registered in the Russian Federation, he has every chance of receiving borrowed funds.

Unfortunately, there is no uniform list of banks working with foreigners. Moreover, if you believe the websites of credit institutions, the majority considers only citizens of the Russian Federation as potential borrowers. However, you need to make allowances for the fact that information on the Internet is not always true, so the best way out is personal communication with bank representatives or sending out loan applications to several institutions.

Not a citizen of the Russian Federation. Get a mortgage: Video