MOSCOW, March 1 – RIA Novosti. Prime Minister Mikhail Mishustin approved a new concessional lending program to support entrepreneurs from the hardest hit industries. This was reported by the press service of the Cabinet.
The government allocated 7.7 billion rubles for it. Both small and large companies from the hotel and restaurant business, culture, tourism, sports and entertainment will be able to participate in the program.
The loan amount will depend on the number of employees. The maximum amount is 500 million rubles. The money is given to the borrower, who undertakes to retain at least 90 percent of jobs during the period of the loan agreement. The amount of support will be calculated based on the minimum wage – 12,792 rubles for each employee, calculated for 12 months.
In the new format, the rate will be three percent. The loan can be issued for a year from March 9 to July 1, 2021. At the same time, for the first six months, the borrower will not have to repay the debt or pay interest. In the second half of the year, this can be done in equal monthly installments.
The guarantor will be the state represented by VEB. The money allocated by the government will be used to reimburse banks for the difference between the preferential interest rate and the market rate, as well as to repay debts of borrowers for the first half of the year. In particular, the state will monthly pay banks six percent of the actually formed debt.
According to the prime minister, about 75 thousand entrepreneurs, whose companies employ about one and a half million people, will be able to benefit from the help.
In the previous version of the concessional lending program, the rate was two percent. According to Deputy Minister of Economic Development Tatiana Ilyushnikova, about 98 percent of businessmen who applied for help have retained their jobs and can count on debt cancellation.
According to a survey of the office of business ombudsman Boris Titov, of those entrepreneurs who took advantage of support measures in the form of direct subsidies (federal or regional) or soft loans, 59.7 percent were able to retain their staff in 2020. Another ten percent of the respondents misunderstood the terms of the program, and a third of businessmen have not recovered their turnover, which is why they could not fulfill their obligation.