In the first half of the 15th century, loans in St. Petersburg could be issued only by state organizations, and then, far away, not all. Only the Chief Lender, the Manufactory Board, the Central Post Office and some others had such an opportunity. Not everyone could get loans either – mostly it was industrialists of the nobility. In the second half of this century, changes began. And now, in 1754, in order to stop the growth of foreign loans and the activity of usurious actions, the Bank opens at the St. Petersburg commercial port.
The first loans in St. Petersburg
The authorized capital of the bank was 500 thousand rubles – this is the approximate cost of five full-fledged factories. The first loans in St. Petersburg were issued at 6% per annum, for a period of not more than six months and only under commodity pledges.
Loans from the bank very soon everything was dismantled, but not all of them were returned. The state treasury did not strive to regularly replenish the bank’s capital. Sometimes the government gave orders to issue loans to noble persons. In general, the government was much more interesting to give loans to nobles, as a rule, on the security of their estates. For this, in the same year, the Noble Bank was opened, which later became the State Loan Bank. Its authorized capital was already 750 thousand rubles. For several decades this bank has been actively working, issuing loans in St. Petersburg to the whole nobility. The purpose of loans from the nobility, basically, was not of a production nature, but the estates that were issued on bail were pledged again.
Usurers in Petersburg
Along with the appearance of the first bank in St. Petersburg, the government issued a special decree, which established the maximum annual interest rate on a loan of 6%. Despite this, it was unprofitable and expensive to take out a loan to many merchants. And after the closure in 1770 of the Merchant Bank, merchants began to lend to each other, and again relations with usurers became more frequent. And then state control over the issuance of loans in St. Petersburg and the interest rates on them, almost dried up. Interest on loans increased by several times and sometimes reached 52% per year.
Loans in Petersburg today
Nowadays in St. Petersburg there are all kinds of loans. Loans in banks, loans in MFI. Usurers and private individuals are also actively issuing loans to the population on their own terms. Type of loan can be selected based on the current situation. If you need a large amount – it is better to contact the bank and arrange a loan. If you need to take a small loan in St. Petersburg, it is more convenient to contact a microfinance organization.