The BNP Bank conducted a very small analysis of loans issued in our country. According to the results of the research,and it turned out that every fifth Payday Loan has recently been issued to a legal entity or an individual entrepreneur.
The total number of Payday Loans in Russia is growing from year to year. So, since last year, the number of loans increased by a third (32%). Experts allocate quick loans, which are popularly called loans before paychecks – the share of these is 22% of the total number of payday loans. A payday loan for business is issued in 20% of cases. For all this time, the population was given 181.4 billion rubles. The net profit of microfinance organizations was also calculated, it amounted to 6.5 billion rubles.
About 400 companies give payday loans for business. And more than a half of them are supported by the fund for supporting small and medium-sized businesses.
The Representative of the YYO Bank Department for payday loan Affairs, noted that he would contribute to the bill, which was developed by the Ministry of Economic Development. In this project it is planned to increase the amount of loans that are issued for business development. In addition to that, if the bill is fully adopted, companies working with legal entities and individual entrepreneurs will be placed on the list of beneficiaries.
It should be noted that payday loans in our country do not work quite the same as in other developed countries. Initially, the first payday loans were invented in America to support citizens of African countries who are having difficulty obtaining financing for their business ideas. So, payday loans in Europe and America have become relatively small loans for short periods specifically for business development.