BUSINESS SUPPORT AND COMPETITION DEVELOPMENT FUND OF NIZHNY NOVGOROD PROVINCE

pr. Gagarina, 28 Nizhny Novgorod, 603600, Russia. Phone: 8312 659131 Tel/Fax: 8312 659550

General Director:
Vladimir Zynonyev

The fund was created in 1992. The main founders: the city and district administrations of Nizhny Novgorod province. The fund is registered in the Department of Justice of the Nizhny Novgorod Province Administration. It is the first Russian institution of regional market infrastructure, which renders a full scope of support for small-sized businesses. The fund is financed from the province budget. The finance aid per one project is up to 150m roubles. The average time of repayment of the invested finance — 6-9 months. The fund has affiliates in Arzamas, Kstovo, Bor, Navashino, Bogorodsk, Pervomaysk, Balakhna.

The fund grants finance on a preferential basis (half value of Central Bank interest rate) for projects and plans developed by small businesses in following priority areas:
— production and processing of farming products;
— consumer goods production;
— construction material production;
— production of medical equipment, pharmaceuticals and health care articles;
— individual every day services;
— handicrafts and applied arts;
— commercial petrol filling stations and their maintenance.

The fund assists in investor seeking and cooperation links development, inputs in marketing research and advertising campaign. Advice and business information, personnel training for small-size businesses.