In the period of economic crises and political instability, issues of financial support for small and mediumsized enterprises are of particular relevance. The purpose of this study is to develop a theoretical and methodological model of financial support system for small and medium-sized enterprises at the regional level. As a research methodology, the systematic approach is used, within which the methods of analysis and synthesis are applied. The article presents the model system of financial support for small and medium-sized enterprises developed by the authors on the example of the Kirov region. The aims and goals, principles, forms of financial support and indicators of its effectiveness are defined. It is proposed to use relative indicators of the credit mechanism with the addition of indicators of loan indebtedness of small and medium-sized businesses to assess of effectiveness of disbursing public funds and functioning of financial support system. The findings may be useful in developing the development strategy of small and medium-sized enterprises in the region.