Financial Support for Business Entities in the City of Sevastopol

Stable financial activities of organizations directly affect the sustainable development of the region. Based on statistical material, it is shown that the business structures of the city of Sevastopol are developing inefficiently. The main reasons are: lack of own financial resources, poor access to borrowed sources of financing, low investment attractiveness of the region due to the sanctions regime. In Sevastopol, credit organizations are not ready to actively finance legal entities - residents and individual entrepreneurs. The cost of credit resources is constantly decreasing, which is associated with a decrease in the discount rate of the Central Bank of the Russian Federation, but they still remain too expensive for business entities - banking clients. Therefore, it is advisable not to stop the program of preferential lending, including subsidizing the cost of paying interest on loans, but to improve it in terms of resolving issues regarding the legislative support of the size of budget support for lending, simplifying the access of business entities to preferential loansIt should not be forgotten that today, during the period of struggle in the country with the spread of coronavirus infection, the financial situation of individuals and legal entities has deteriorated sharply. The drop in revenue, the growth of counterparty defaults - all this will make it difficult for organizations to access cheaper bank loans. At the same time, for companies seriously affected by the crisis, interest rates on loans at some banks may even increase. There are a number of projects in the city within the framework of state programs, but the opacity of tender procedures and the inadequate mechanisms of their financing, including from budget sources, do not allow regional organizations to participate in their implementation.