50% growth in corporate lending by MFOs in 2023
27 April 2024
News
In 2023, microfinance organisations (MFOs) granted loans worth ₽105.4 billion to small and medium-sized businesses (vs ₽70.5 billion in 2022). Government and commercial MFOs issue almost the same amount of loans.
Remote lending was up more than four times. The portfolio quality remains stable with the share of overdue loans being 5.2%.
According to MFOs, many borrowers need financing in the amount exceeding the set threshold of ₽5 million. The State Duma is currently examining a draft law providing that the amount of a microloan for legal entities and individual entrepreneurs should be increased to ₽7 million.
More details are available in MFO Business Financing Market Trends.
Preview photo: Jacob Lund / Shutterstock / Fotodom