Enhancing business support in Chuvashia by NOVICOM
In the heart of Russia, the partnership between NOVIKOM, a Joint Stock Commercial Bank with INN 7706196340, and the Chuvashia Guarantee Fund is making significant strides in supporting small and medium-sized businesses (SMEs) in the region.
NOVIKOM's role in this partnership is multifaceted, serving as an investment in industrial development, job creation, and regional economic stability. The bank's work in Chuvashia is considered a part of systemic business support, playing a crucial role in providing access to financial resources for SMEs.
The Chuvashia Guarantee Fund, a key player in this partnership, provides guarantees for loans issued by NOVIKOM. This arrangement allows the preservation of capital and an increase in the volume of guarantees issued, supporting a larger number of entrepreneurs.
The funds placed by the Chuvashia Guarantee Fund in NOVIKOM have been utilised for various purposes, including technical re-equipment, equipment purchases, and expanding product ranges. This infusion of capital has resulted in a significant increase in the volume of guarantees, with entrepreneurs in the region attracting over 1.5 billion rubles in the first half of 2025.
Marina Moiseeva, the head of the NOVIKOM branch in Nizhny Novgorod, stated that the bank is actively developing cooperation with business support institutions throughout the country. The number of signed agreements between NOVIKOM and such institutions has already exceeded 90.
NOVIKOM's approach allows for the creation of an effective credit infrastructure, ensuring that each entrepreneur has access to necessary financial resources. The bank's industry expertise and wide network of partnerships also extend to high-tech sectors, offering financial support for SMEs in these sectors.
Moreover, NOVIKOM's activities are not limited to loans but also involve investment in the development of industries and the creation of jobs. The bank's wins in competitive selections suggest competitive conditions and high reliability, further bolstering its reputation as an effective tool for regional business support.
This partnership between NOVIKOM and the Chuvashia Guarantee Fund is one of many such partnerships that NOVIKOM is developing across the country, demonstrating the bank's commitment to supporting SMEs and fostering economic growth in Russia.
What is the role of NOVIKOM's partnership with the Chuvashia Guarantee Fund in the finance industry and business sector? It serves as an investment in industrial development, job creation, and regional economic stability, providing access to financial resources for small and medium-sized businesses (SMEs) through systemic business support. The bank's industry expertise also extends to high-tech sectors, offering financial support for SMEs in these areas.
