Russia's Primorye Tightens Lending Rules After 42% Online Loan Collapse

Microfinance organizations in the Primorye region issued around 482 million rubles in loans to individuals in 2025, compared to nearly 258 million rubles in 2024, according to a statement. Online lending volumes, however, fell by 42% to 12.3 million rubles.

In total, Primorye-based MFIs signed 26,500 agreements with businesses and private borrowers in 2025.

The microlending market underwent significant regulatory changes during this period. Since September 2025, MFIs have been required to conduct stricter identity verification for online loan applicants. Starting in 2026, lenders will no longer consider unverified income statements from borrowers.

A strict cap on overpayment for short-term loans took effect on April 1: the total repayment amount cannot exceed twice the original loan. This means a borrower taking out a 10,000-ruble loan will repay no more than 20,000 rubles, even including penalties.

Regulations will tighten further in the coming months and years. Beginning in October, a single borrower will be limited to no more than two "high-cost" loans with an annual percentage rate (APR) exceeding 200%. Then, from April 2027, only one cash loan with an APR above 100% will be permitted per borrower, with a mandatory three-day cooling-off period between repaying one loan and taking out another.