Concessional loan for small businesses in connection with the coronavirus

2024 Author: James Gerald | [email protected]. Last modified: 2023-12-17 14:00

To support small businesses in connection with the coronavirus in Russia, a special state program was launched in 2020, within the framework of which it is possible to apply for a preferential loan to pay salaries to employees. Learn more about how to get funds, conditions for obtaining a loan.

State support for Russian businessmen

The President announced measures to support entrepreneurs amid the coronavirus epidemic. In accordance with the Decree of the Government of the Russian Federation of 02.04.2020 No. 422, one of the measures taken is the provision of preferential loans for the issuance of wages to employees.

According to this document, small and medium-sized businesses will be able to get a preferential loan from the bank for a period of not more than 1 year from March 30 to October 1 of the current year. The state, in turn, undertakes to compensate banks for the lost funds through budget subsidies.

At the end of April, the decree was amended. From April 24 this year, not only representatives of small and medium-sized businesses, but also all organizations and entrepreneurs can count on obtaining a preferential loan. The loan is targeted and can be spent only on primary needs, in particular, on the payment of salaries to employees.

Conditions of a preferential loan for small businesses at Sberbank

Sberbank will issue a preferential interest-free loan for small businesses in connection with the spread of coronavirus in 2020, subject to the following conditions:

• the presence of a salary project in the same bank;
• total time of the company's activity - at least 12 months;
• the number of employees does not exceed 100 people;
• profit volume - no more than 800 million rubles, according to official reports for the last year.

In addition to the listed rules, the company's activities must relate to one of the industries that are most affected by the pandemic:

• auto and air transportation, airports;
• cultural and leisure activities;
• sports and health improvement of the population;
• tourism;
• hotels, hotels;
• catering;
• the sphere of organizing conferences and exhibitions;
• providing household services (beauty salons, dry cleaners and other organizations).

Concessional loans are issued as pre-approved and can be obtained electronically. To complete an application, you need to go to the Sberbank Business Online application.

If the offer is available, the service provides a Story card with the text "Loan for salary payments at 0% per annum" and an amount calculated based on the characteristics of the company. To apply, you need to click on the card.

The size of the loan is determined taking into account the number of employees of the company, multiplied by the minimum wage and by 6 months (loan term).

VTB terms

According to information from the press service of VTB, the bank has already begun issuing loans at 0 percent to small businesses for up to six months. The decision on the application is formed during the day based on a simplified list of documents.

Conditions for receiving funds:

• belonging to small and medium-sized businesses of the above industries;
• the total number of employees is up to 100 people;
• annual revenue - no more than 800 million rubles.

The final loan amount is influenced by the number of employees of the enterprise, the minimum wage, the regional coefficient at the place of registration of the borrower and the rate of contributions from salaries. Collateral is not provided.

The practice of obtaining interest-free loans

By the end of April 2020, interest-free loans were issued in the amount of more than 15 billion rubles under 5,370 loan agreements. The information was confirmed by monitoring data on 26 banking organizations that signed an agreement with the Ministry of Economic Development.

According to Deputy Minister of Economic Development Tatiana Ilyushnikova, the proposed program for small businesses is gaining momentum. The procedure for banks' interaction with the Federal Tax Service in terms of confirming the number of employees of the enterprise and the absence of such loan applications in other banks has already been worked out and established. Medium and large organizations were also involved in the program.

The Ministry of Economic Development constantly receives applications from banking organizations for participation in the state program for the provision of soft loans. In addition to Sberbank and VTB, SDM-Bank, JSCB Energobank, Bank Levoberezhny, CB Center-invest, VladbiznesBank and others are engaged in issuing interest-free loans. Today, 31 banks can get an interest-free loan.

In connection with the coronavirus epidemic, in 2020 the state is trying to support entrepreneurs and is introducing various assistance measures. Companies can get a preferential loan for small businesses both now and in a few months before October 1, 2020.

Summarize

1. As a result of the unfavorable epidemiological situation in Russia due to the coronavirus, the state decided to provide assistance to Russian small and medium-sized businessmen. They are given the opportunity to obtain credit on favorable terms.
2. The money is earmarked and can be spent on employee salaries.
3. In Sberbank, the loan is pre-approved for those companies that receive wages in the specified bank in accordance with the agreement.
4. The list of banks where you can get a soft loan is expanding. In addition to Sberbank and VTB, there are 29 more credit institutions that can provide loans at 0 percent.