On March 24, 2009, there was a meeting of the Council of Trustees of the Investment and Venture Fund of the Republic of Tatarstan
On March 24, 2009, there were considered several issues, including the item concerning the statement of LLC "LCSB-RT" for 2008, question of alterations into the “Support Program of SME by Investment in Production Goods on the Basis of Leasing” in order to assure availability of lease payments financing for small and medium-sized business entities under the conditions of the crisis, and there was heard the information about the Fund’s progress on compensating part of the interest rate on bank credits to the enterprises, implementing the projects in the priority branches of the economy of the Republic of Tatarstan within the framework of the meeting of the Council of Trustees of the Investment and Venture Fund of the Republic of Tatarstan.
According to the p.1.3 of the Support program of SME by investment in production goods on the basis of leasing, the Council of Trustees of the Fund half-yearly approves the priorities in the activity of LLC "LCSB-RT." By resolution of the Council of Trustees from August 1, 2008, purchase of technological equipment was defined as the priority direction for the activity of LLC "LCSB-RT" for the second half-year in 2008. Moreover, it was established that 75% from volume of transactions, being made by LLC "LCSB-RT" within the framework of the support program of small business entities, must conform to the priority direction approved for the proper time.
As of January 1, 2009, the sum of the lease transactions portfolio made up 1 578,83 mln. rub., including 599,22 mln. rub. (gain by 61,12%) for 2008. Proceeds of LLC "LCSB-RT" made up 447 mln. rub. as of January 1, 2008, including 275 mln. rub. (gain by 87%) for 2008. Total number of concluded agreements of financial lease made up 493 as of January 1, 2009. From them, there were 111 agreements in fiscal period (2008) (gain by 29,06%). Average sum for deals on leasing agreement of the company activity made up 3,2 mln. rub. for the whole period, it was 5,4 mln. rub. for 2008. At the beginning of 2009, total number of clients of LLC "LCSB-RT" made up 244. Total number of financed re-established (“starting”) small business entities made up 66 as of January, 1, 2009, including 14 for 2008 (gain by 26,92%). Budget effect made up more than 39 mln. rub. for 2009, social effect was 1018 working places for the period of the company activity, including 468 places for 2008 (gain by 85%). As of January, 1, 2009, LLC "LCSB-RT" rendered the services in the sphere of financial lease in 21 housing estates in 19 districts of the Republic of Tatarstan.
Preserving and strengthening industrial and technological potential was declared as one of the priorities of the federal turnaround program for 2009.
In this respect, the activity of LLC "LCSB-RT" was focused on support of small business entities within the framework of pre-contracts on financial lease, experiencing difficulties in connection with the financial and economical crisis, as well as on bond for lease payments in 2009. It is suggested to define purchase of technological equipment and specialized machinery, including special machines for construction and road building, as the priority direction for the activity of LLC "LCSB-RT" for the first half-year in 2009 within the framework of implementing the Support program of SME by investment in production goods on the basis of leasing.
Since 2005, SNO “IVF RT” has been implementing the Program “Regulation on Compensating Part of Interests on Commercial Banks Loans to the Enterprises, Implementing the Projects in the Priority Branches of Economy of the Republic of Tatarstan.” According to the previous decision of the Council of Trustees, the Fund pays compensation of interests on commercial banks loans to the enterprises, implementing the projects in the priority branches of economy of the Republic of Tatarstan. In 2008, the Fund compensated the sum of 8 612,1 mln. rub. to 9 organizations, including: ОАО “Chistopolsky Bakery Plant,” ОАО “Tatkhimfarmpreparaty,” ОАО “Bakery and Confectionery Complex,” ООО “Stil,” ОАО “Zelenodolsky Plant after А.М.Gorky,” ООО “Complect-Service+,” ОАО “Adonis,” ООО “Kazansky Industrial Complex of Software Tools,” ООО “PSB-2.” The Fund specialists continually carry out the work on data collecting and processing, which are provided by the enterprises within the framework of the reports on progress in implementation of investment projects.
Тhere were made alterations in the “Support Program of SME by Investment in Production Goods on the Basis of Leasing” in order to assure availability of lease payments financing for small and medium-sized business entities under the conditions of the crisis as well. This Program stipulates subsidization of lease payments when fulfilling of certain conditions by lessee. To maintain the support mechanism for small business entities by subsidization of lease payments, it is necessary to make it more available. With this respect, it should be softened one of the criteria, applying to lessees, taking into account the crisis and financial difficulties subject to it. It is suggested to ease the criterion of promptitude and completeness of discharge of lease payments: to consider acceptable arrears of lease payments no more than 3 (three) months, given that amount of indebtedness will be no more than a single lease payment. Therefore, if lessees, who have arrears of lease payments no more than three months, pay off their debts, they will be able pretend to payments subsidization.