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MIL OSI Translation. Region: Russian Federation –

At a meeting with the participation of the Ministry of Economic Development, the Ministry of Finance, the Federal Tax Service and the Bank of Russia, the launch of the second stage of the FOT 3.0 preferential lending program was discussed.

Andrey Belousov held meetings on the launch of anti-crisis measures to support small and medium-sized businesses in the most affected industries

First Deputy Prime Minister Andrei Belousov held a meeting with banks on the introduction of anti-crisis measures to support businesses amid the spread of coronavirus infection. At a meeting with the participation of the Ministry of Economic Development, the Ministry of Finance, the Federal Tax Service and the Bank of Russia, the launch of the second stage of the FOT 3.0 preferential lending program was discussed.

From November to December 2021, 30 Russian banks will resume issuing concessional loans at a rate of 3% per annum for SME and SONCO companies. Cinemas, museums, zoos, sports organizations and fitness centers, sanatoriums, travel agencies, hotels, catering establishments, as well as companies that organize leisure, recreation, entertainment and events – legal entities and individual entrepreneurs will be able to receive support. The key condition of the program is to keep the number of employees at a level of at least 90%. This indicator will be monitored through the data of the Federal Tax Service.

Loans at a preferential rate will be issued to borrowers who participated in the FOT 2.0 program and to SMEs created from July 1, 2020. It is assumed that loans of up to 300 million rubles with state guarantees will be issued for up to 18 months. At the same time, during the first 6 months, the entrepreneur will be exempted from paying the loan and interest on it, and over the next 12 months he will be able to repay the loan and interest in equal shares.

At a separate meeting with the relevant departments, we also discussed the mechanics of providing grant support to businesses. SMEs that work in the sports, hospitality, catering, additional education, personal services, culture, leisure and entertainment sectors and some others will be able to apply for a gratuitous grant starting from November 1, 2021. Applications will be accepted until December 15, 2021.

Payments will be made in 8 working days from the date of filing an application with the Federal Tax Service (the first issues will take place on November 15). The amount of the grant will be determined depending on the number of employees – one minimum wage per employee, including the individual entrepreneur himself.

According to Andrey Belousov, the support will reach about 3 million workers in the SME sector, including individual entrepreneurs.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

MIL OSI Russia News