Subject. Credit policy in Russia, system of financial benefits. Objectives. Identify patterns, structural shifts, and hidden trends in the dynamics of lending to legal entities and individual entrepreneurs, as well as small and medium-sized businesses in Russia. Methods. Descriptive statistics and structural analysis methods were used. Results. A multifactor methodology for analyzing credit flows has been developed, taking into account the dynamics of structural shifts and the regulatory context. It has been found that preferential lending programs played an important role in supporting the real sector of the economy during crises, but their share in the overall portfolio did not become dominant and declined after conditions normalized. Small and medium-sized enterprises show a high dependence on preferential lending. The prevalence of high interest rates reflects the tightening of monetary policy. Conclusions. The research results can be taken into account by authorities to improve credit policy and optimize the parameters of preferential financing programs.
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