The paper considers the features of agricultural crediting in Altai in the 1920‑s, as Altai was one of the leading agricultural regions in Siberia and in Russia. The authors conclude that during the period of New Economic Policy (NEP) the base of the state economic regulation in agriculture was the different kinds of bank loans for the developing of leading commodity branches in the region. Besides the realization of economic function, agricultural crediting provided support for different social groups of the population increased the cultural level of the Altai village. Evolution of the peasant farming in the 1920‑s occurred because of the growth of the credits in the main branches of agriculture which contributed to the modernization of the agricultural production. The study of rich historical experience of agricultural development under the influence of agricultural credit cooperatives activity during the NEP period has a practical value for the restoration of agriculture today.