Abstract
The purpose of the research is to assess the indicators describing the activities of microfinance lending systems for entrepreneurs in Russian regions. Our study uses official statistics on the quantity and total amount of microloans provided for entrepreneurs in all regions of Russia in 2018. The paper deals with the following relative indicators: the number of microfinance loans per 1000 entrepreneurs, the number of microloans per one region resident, the number of microloans per entrepreneur, and the average value of one microloan. Our study provides an assessment of these indicators for all regions of the country, determines their average values and intervals of change, typical for most regions and identifies regions with large and low values of these indicators. Methodology used in the paper and the developed tools can be used in further scientific works devoted to microfinance. The research results can be applied by state and regional bodies in the process of formation and implementation of measures that improve financing of the business sector. The developed models can be referred to when determining the needs for entrepreneurs' microfinance in regions where the entrepreneurial sector is not discussed. The data obtained can be used in the process of teaching bachelor and master students at universities.
Highlights
Banks are the main source of lending to enterprises and organizations in developed and developing countries
Our study examines the following relative indicators characterizing the performance of microfinance systems in all regions of Russia in 2018: the number of microfinance loans per 1000 entrepreneurs; the sum of microloans per 1 inhabitant; the sum of microloans per 1 entrepreneur; the average value of one microloan
In the course of the simulation experiment, we have developed economic and mathematical models, characterizing the regional distribution of the four previously indicated indicators
Summary
Banks are the main source of lending to enterprises and organizations in developed and developing countries. These institutions rarely provide financial services for entrepreneurs owning small businesses. Banks, with relatively small amounts of Universal Journal of Accounting and Finance 9(6): 1258-1264, 2021 financing for entrepreneurs, incur higher operating and administrative costs compared to large organizations [5]. Entrepreneurs, in turn, find it difficult to obtain complete information about financial lending programs that exist in each of the banks. The above-stated reasons significantly reduce the availability of loans for entrepreneurs in comparison with large enterprises. The recent crisis events have aggravated the stated issue, and many banking institutions have practically stopped providing loans for entrepreneurs
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