The recent research conducted by the National Agency of Financial Research (NAFI) on the availability of financial products and services for Russian businesses involved 2,200 respondents; these companies were asked to comment on how easy they feel it is for a startup company to get a bank loan provided they only have a good business plan and no collateral. Over a half of those surveyed said this would be difficult or extremely difficult. Only a quarter of respondents felt it was quite painless for a startup to get a loan.

The respondents also said a business’s geographical location mattered a lot: they believe getting a loan is easiest for startups based in Central and Privolzhskiy Federal Districts, while companies located in Siberian and Ural Federal Districts would find it very hard.

Nevertheless, when it comes to the Ural Bank for Reconstruction and Development, a company’s location or the lack of collateral can’t act as the deal-breakers.

‘We normally agree to give loans to startups in case these are our old-time partners’ daughter enterprises. Provided the bank is well aware of their business management style, the customer has a nice credit record, and they have been doing business with us for a while, the bank is willing to offer collateral-free loans in case this customer needs to enter the new market niches or expand the business,’ says the Ural Bank for Reconstruction and Development’s Business Offers Development Director Elena Sorvina.