Банковское дело

In most cases insurance of mortgage property is an indispensable condition.  But there is a number of transactions at which it is possible not to insure the property pledged (for example, securities, precious metals, property rights aren't subject to insurance and some other), the land plots aren't always insured.  Options when the client doesn't insure a mortgaged property are possible, and pays to Bank for not insurance.

Besides, since 2004 in Sberbank the program of financing of small business works.  And since December 1 of this year within this program on credits to the amount to 1 million rubles the mortgage property can be not insured.

The line of credit programs is sufficient the wide.  Hit of sales is the unsecured credit "Trust".  It is the inappropriate express credit which is made out by bank within three working days on condition of representation of a full package of documents.  Since March the sum of the credit is increased to 3 million rubles.  However, this option doesn't suit the Unikod Ltd company in a type of the insufficient sum.

The credit "Business Turn" allows to fill up to business current assets for production, trade and service. Businessmen have an opportunity to issue this loan on the security of inventory holdings of the enterprise and to receive a delay of repayment of a principal debt.

The credit "State order" provides preferential terms of crediting for the purposes of implementation of the state or municipal order. Feature of this type of loan is that proceeds of credit are provided on the security of property rights under the contract on implementation of the state or municipal order at the credit sum to 5 million rubles. However, the company needs slightly a large sum.

Programs of express crediting of the Unikod Ltd company don't approach for the same reason – provided on the security of the sum vary from 3 to 5 million rubles.

The credit "Business Project" of Sberbank allows to obtain funds for financing of investment projects: business expansion, modernization of production or opening of new activity, however goes on the security of property, including acquired.

Encourages that fact that the bank considers various options of cooperation and doesn't refuse work with those businessmen who have no pledges or their volumes are insufficient.  Except property providing, the Sberbank accepts guarantees of subjects of the Russian Federation or the municipalities which are given out according to the Budgetary code of the Russian Federation.  Also the bank accepts guarantees of the solvent legal entities belonging to infrastructure of support of small and average business.  It can be the centers and agencies on development of small and average business, the state and municipal funds of support of small and medium business, funds of assistance to crediting (guarantee funds, funds of guarantees), etc. the similar structures created, including for the purpose of providing guarantees according to obligations to banks of small and average business.

In addition, the bank accepts as providing on the credits the guarantee of guarantee funds at the rate to 70% from the sum of obligations of the borrower on the credit. It allows the businessmen who aren't possessing sufficient pledge, to obtain the credit in the necessary volume that does banking products even more well.

Owners of Unikod Ltd decided to study credit offers and other banks too. The VTB 24 bank actively advances package products which allow businessmen to optimize the financial and time expenditure. For individual entrepreneurs and owners of small business the bank developed the credit the "Kommersant" which allows to receive to 3 million rubles for up to 5 years without pledge and the guarantee. Time of consideration of the demand takes two-three days, the additional commissions, as well as on other programs of the credits with cash, aren't raised. Today this one of the most attractive offers in the market as the "Kommersant" package provides special conditions on some other banking products of VTB 24. The interest rate for the credit will make from 17% per annum at acquisition of one of "Kommersant" packages. Without pledge in this bank it is possible to receive 3. 000.000 rubles.

For businessmen who worked more than 6 months, the Uralsib bank offers programs of unsecured crediting.  At decision-making the staff of bank considers some indicators, such as liquidity, a ratio of loan and own capital, profitability of the enterprise.  The bank solves a problem of low degree of legality of business by means of an assessment of a real financial condition of business on the basis of the administrative reporting which can be provided in that look in which it is conducted.

Clients of small and medium business will be able to receive financing for the sum to 5 million rubles for a period of up to 36 months on products of "Credit-Business", "The credit for the credit" and "Credit-Invest" without providing pledge.  When receiving the credit for a large sum poor pledge the part of a principal debt also can make to 5 million rubles.  In Promsvyazbank the unsecured credit product "The credit simplified" which allows to receive financing for the sum to 3 million rubles for a period of up to 60 months without providing pledge continues to work.  On a product consideration and decision-making terms according to the credit demand are reduced, thus from borrowers the minimum package of documents is required.

The Petrokommerts bank lowered level of requirements to mortgage providing on the credits for small business: now 10% from the sum of the credit for business development, on the investment purposes, and also on acquisition of the equipment, motor transport, real estate can be, etc. not provided with pledge. Thus the interest rate for the credit and term of crediting remain invariable. In Petrokommerts Bank strategy till 2016 financing of small and medium business is allocated in number of priority activities. Service of small and medium business is made in all regions of presence of Bank. The product line of Bank includes all classical types of crediting of small and medium-sized enterprises: unsecured credits (including overdrafts), credits for business development, target credits for acquisition of motor transport, equipment, real estate (including vein), refinancing of obligations, credits to owners of business, etc.

And the most important, bank actively works with regional funds of development of business which also allow representatives of small business partially or completely to resolve an issue of insufficiency of mortgage property when crediting.

To obtain the credit for business without pledge quite really, however it is necessary to be ready to increased requirements of bank and interest rates.  Business has to work not less than 6-12 months, make profit and at least not have negative credit history.  Even better — to have positive history.  The next delusion also is that without highly liquid pledge it is impossible to obtain the credit.

So, as providing the credits banks accept:

•  inventory items — the goods, finished goods;

•  the bank guarantee — a guarantee of other banks;

•  the guarantee of the various funds participating in a state program of support of small business.

•   guarantee of owners of business;

•   guarantees of subjects of the Russian Federation or municipalities;

•  guarantee of Funds of support of small business;

•  рarticipation in the State order program on the security of property rights;

•  рroperty of the third parties.

Since 2005 the direction on creation of regional guarantee funds which provide missing mortgage providing when crediting small enterprises by banks is realized. The businessman who doesn't have 50-60% of providing, but whose project is approved by bank, can address in such fund and receive mortgage providing.

Today banks conduct work on simplification of relationship with clients, and also there are special organizations, such as the Support of Russia, Opora-Credit which help interaction of the client with bank.

"Yuniastrum Bank" actively cooperates with the Russian Bank of support of small and average business within a state program of financial support of MSP. Within this program representatives of the small and medium business which is meeting the requirements of Russian Bank for Development, can receive on favorable terms proceeds of credit in "Yuniastrum Banke".

Now at insufficiency of liquid mortgage providing the enterprise borrower will be able to use the guarantee of Guarantee fund for receiving the interesting sum of the credit in "Yuniastrum Bank".

Within regional programs of support of small and average business the fund will address as the guarantor banks at the rate to 70% from the credit sum.  Its maximum sum will make 7 million rubles, guarantee term — five years.

The potential borrower, wishing to use the help of Fund, needs to fill in the corresponding demand in bank. After its approval the businessman addresses for guarantee registration. The size of one guarantee can't exceed 50% of-70% from the size of obligations to bank. Within the issued guarantee the Fund isn't responsible before bank for penalties (penalties, fines), compensations of the legal cost caused by non-execution by the borrower of the credit obligations. The total volume of guarantees which is at the same time operating concerning one borrower, - no more than 5-7 million rubles.

Conditions of providing guarantee:

1.  the borrower has no debt on taxes and fees.

2.  the relations with hired workers are issued according to the legislation of the Russian Federation.

3. the average monthly size of a salary for the last 3 months shouldn't be less than a minimum wage.

4.  the financial condition of the borrower has to correspond to conditions of the technique used by Sberbank of Russia of joint stock company.

One more option – the credit under the guarantee of the individual. If there is no opportunity to provide the reference, there is no own property which can be pledged, but there is an excellent business idea and acquaintances or relatives with the decent income, they can act as guarantors. Most often banks agree to credit such borrowers, though show to them a number of additional requirements. In particular, subsequently the businessman can oblige to pledge the acquired property (equipment, real estate, the equipment or cars).

As it was told, the credit to business in certain cases can be given on the security of real estate. But, in addition, banks can consider opportunity to lend and on the security of acquired business. In this case procedure will be rather difficult and long. Its essence will be consists in the following:

•  The bank estimates business which the borrower assumes to buy (by the way, it will be rather useful and for the last – professionals will reveal at once all weak places and even will calculate expected profitability of "purchase").

•  For receiving such credit it isn't obligatory to small business to provide the reference: bank, seeing that good and profitable business is got, in it won't interfere. If in the future it doesn't turn out to develop successfully it, financiers realize a subject of pledge and will cover debts (to count more than on 70% of cost of property which the borrower will pledge subsequently, isn't necessary).

If it is a question of the company cooperating with bank a long time and having turnovers of the settlement account, the bank also can give opportunity to issue a special form of the short-term credit – an overdraft. Owners of the small organizations who can't provide property pledge, should pay the attention to an overdraft which can be both mortgage, and unsecured, more expensive some –  on the average 18-21% per annum.

2.3 Optimum solution of mortgage providing credit to small business

Having studied a situation in the market, owners of Unikod Ltd, the decision to stop on the guarantee of Guarantee fund as mortgage providing the credit was made.  Work with Guarantee fund possesses the mass of advantages which very few people won't appreciate:

•   low amount of remuneration (from 0,25 to 2% per annum from the guarantee sum) does cooperation with Fund favorable since the alternative option of the unsecured credit will manage much more expensively owing to high interest rates;

•   the guarantee of Fund isn't required to be insured;

•   opportunity not to burden the property with pledge and to use it without restrictions, saving money due to lack of insurance payments;

•   the guarantee of Fund is accepted by partner banks as providing without discount, that is 1:1;

•  reduction of the financial and organizational expenses connected with an assessment and insurance of property, pledged;

•   possibility of receiving the credit in the absence of own sufficient providing;

•   simplicity of the scheme of obtaining the guarantee (it isn't required the special preliminary appeal to Fund behind obtaining the guarantee).  Application is carried out through partner bank.

For the beginning of 2013 partner banks of guarantee funds are:

1  .  open joint stock company Sberbank of Russia

2  .  open joint stock company Rosselkhozbank

3  .  open joint stock company Tambovcreditprombank

4  .  open joint stock company URALSIB BANK

5  .  VTB Bank (JSC)

6  .  VTB 24 (JOINT STOCK COMPANY)

7  .  open joint stock company Promsvyazbank

8  .  open joint stock company MOSOBLBANK

9  .  Rosavtobank commercial Bank (JSC)

10  .  Communication bank (joint stock company)

11 . open joint stock company Bank Severny morskoy put and others

The Savings Bank cooperates practically with all guarantee funds existing today that allows clients to obtain the credit in bank under the guarantee of guarantee fund.

To issue the credit under the fund guarantee quickly enough since between it and partner banks cooperation agreements work, the fund is already approved by bank (head office of bank) as the guarantor that considerably reduces time of consideration of the demand for the credit.

Besides, having issued the credit under the fund guarantee, the borrower still has obligation only on its timely repayment, the borrower disposes of all the property at discretion.

The cost of the guarantee of fund, unlike costs of transfer of property as a deposit, is more favorable to the Borrower.

Moscow
Parameters of providing guarantee	Fund of assistance to financing of small business of Moscow
The maximum size of the guarantee is at one borrower	10 million rubles
The maximum size of the guarantee is at one borrower in % from the credit sum	50%
The maximum term of crediting under the Fund guarantee	5 years
The size of the commission of Fund for providing the guarantee	1,75% per annum from the guarantee sum
Minimum term of business	6 months

Example of calculation of cost of the guarantee

Fund of development of small and average business of the Novosibirsk region

Credit sum	Term, years	Program of the Fund	Sum of the Guarantee of the Fund, rub	Pledge, rub	Cost of the guarantee, rub
1 000 000	1	70%	700 000	300 000	7 000
1 000 000	3	70%	700 000	300 000	21 000
1 000 000	5	70%	700 000	300 000	35 000

1.  If you take the credit of 1 000 000 rubles, pledge will make 300 000 rubles (30% from all sum of the credit)

2. The guarantee is provided for 70%: 1 000 000 ×70% = 700 000 rubles.

3.  Remuneration to Fund makes 1% from the guarantee sum: 700 000 ×1% of =7 000 rub.

Approximate calculation of cost of providing when receiving the credit for 1 million rubles for a period of 1 year

Providing on the credit with a mortgage cost of 500 thousand rubles at the minimum discount of 30% (with a market cost of 700 thousand rubles)	The guarantee of guarantee fund on 500 thousand rubles.
At registration as proof of the vehicle: - Vehicle assessment – from 2 thousand rubles to 19 thousand rubles; - Registration of an insurance of the COMPREHENSIVE INSURANCE of the vehicle (the beneficiary the credit organization) –  from 10% to 20% from transport cost Total: from 72 to 159 thousand rubles.	Amount of remuneration of Guarantee fund makes 2% from the guarantee sum = 10 thousand rubles. For Borrowers who repeatedly obtain the credit (leasing) under the guarantee of Guarantee fund, amount of remuneration makes 1,8% = 9 thousand rubles. For consultation of experts of PGF, selection of bank and a credit product – the payment isn't raised.   Total: 10 thousand rubles at repeated crediting under the guarantee of Guarantee fund – 9 thousand rubles.
At registration as proof of real estate: - Assessment of commercial real estate – from 9 thousand rubles to 15 thousand rubles; - Real estate insurance (the beneficiary the credit organization) – from 1% to 10% from real estate cost; - Registration of the contract of pledge: the size of the state tax for commission of registration actions – from 1 thousand rubles to 15 thousand rubles. Total: from 17 to 100 thousand rubles. Total: from 72 to 159 thousand rubles.
At registration as proof of the equipment: - Equipment assessment – from 2 thousand rubles to 5 thousand rubles. - Equipment insurance – 1-2% from equipment cost Total: 9-19 thousand rubles.

 

Guarantee funds — the regional non-profit organizations created at the expense of the federal and/or regional budget which main objective is expansion of access of subjects of small and average business to credit and financial resources.

Funds of this sort are created practically in all million-plus cities, and by experience of other regions are real links of support of small business. It is very favorable to businessmen to use the Fund guarantee. First, it supervises credit conditions —  and it is a guarantee of that they will be adequate and won't exchange. Secondly, the businessman can receive more preferential interest rate as the bank will secure the risks: between the guarantor and the borrower in questions of return of a debt it is safely possible to put an equal-sign.

Thus, indisputable advantage of the Guarantee of Fund is possibility of receiving the credit (bank guarantee) in the absence of own sufficient providing, after all having used the Fund guarantee, the borrower only for 30% of the sum of the credit gives to bank the property to providing according to the credit agreement, 70% of a loan are provided by the Fund guarantee. And, the Guarantee of Fund is accepted by his partners as providing without discount, i.e. 1:1. Also plus is opportunity not to burden the property with pledge and to use it without restrictions, saving money due to lack of insurance payments. The guarantee of Fund isn't required to be insured. And the cost of the guarantee of Fund is much lower than the cost of insurance of the property transferred to providing obligations.

It is possible to include in number of advantages as speed of registration of the guarantee of Fund – within 3 working days, and simplicity of the scheme of receiving (it isn't required the special preliminary appeal to Fund behind obtaining the Guarantee). Application is carried out through partners of Fund, so, there is no need of a collecting documents separately for Fund (documents for the guarantee are provided by the partner of Fund).

For this reason, founders of the Unikod Ltd company, stopped the choice on services of Fund of assistance to financing of small business of Moscow.

Conclusions and Recommendations

In the last decade, in connection with active development of small business enterprises in the Russian economy there were positive changes. But the problem of their financing remained not solved and continues to interfere with business development

In Russia now about 5,5 million subjects of small and average business, their share in gross domestic product of the country make 24%.

However small and medium business will develop. Nevertheless, life of businessmen in Russia is connected with a set of problems, to solve which the combined efforts of the power, business and banks [1] will help.

The main problems of businessmen - lack of finance for business development, low level of knowledge of existing programs of support, regulations and opportunities. The cumulative program of support of small business covers no more than 1-2% of businessmen, other 98% - remain in private with the problems [2].

At federal level of the power often declare a priority and importance of small business and need of its full support. Since January 1, 2008 the Federal law of July 24, 2007 No. 209-FZ "About development of small and average business in the Russian Federation" which, apparently, had to improve position of business owners considerably came into force. However this law doesn't provide one of important components of the organization of small business – the special credits on favorable terms. Therefore the solution of the problem of financing of small business lays down on shoulders of local authorities and bank structures. And, though for the last three-four years the volume of financing of small business grew by 80%, the need of this branch for borrowed funds is satisfied today no more than for 15-17%

To the most important problems of financing of small business refer opacity of the Russian small business, lack of reliable pledges (as the majority of representatives of the specified sphere aren't owners of liquid property) and mistrust to the small business, felt by banks.

That fact is obvious that for achievement of a certain number of small enterprises (peculiar the countries with the developed and growing economy), need creation accurate and is debugged operating structure of the state support.

Thus it is a question not only of changes and innovations in the legislation, but also on the specific actions which are carried out by subjects of the Russian Federation.