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MIL OSI Translation. Region: Russian Federation –

February 15, 2022, 07:04

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Photo by E. Samarin. Mos.ru

In order for industrialists to work smoothly, they are offered a new measure of support.

Capital producers can get in Moscow Foundation for the Support of Industry and Entrepreneurshipconcessional loan to compensate for deferred payments. Its amount is from 20 to 50 million rubles. If there is a demand from industrialists for factoring financing, the maximum loan amount can be increased.

Manufacturers face delays in payments under supply contracts, as buyers often pay for goods only a few months after shipment. It turns out that resources are spent on the production of products, but the manufacturer does not receive money.

“Moscow continues to develop new measures of financial support for industrialists. Over the past few months, four programs have been launched that allow you to offset the cost of paying interest on loans for new equipment, receive loans for the implementation of IT solutions, pay for services for bond placement services and advance proceeds. With the help of such a loan, enterprises can receive from 20 to 50 million rubles to compensate for deferred payments. The funds can be used to close the cash gap until the buyer pays for the delivered products,” said the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations

Vladimir Efimov.

The interest rate of the loan depends on the key rate of the Central Bank of the Russian Federation at the time of application, but it cannot be lower than six percent per annum. Thanks to the new support measures, companies will be able to manage debt on more favorable terms than existing factoring offers on the market.

“The product can be used for up to 180 days. To do this, the company needs to submit an application, indicate the purpose of the loan and provide a supply agreement, according to which the company wants to close the cash gap. The main debt must be repaid after receiving payment from the supplier,” said the head

Department of investment and industrial policy of the city of Moscow Alexander Prokhorov.

In addition to “Advanced Proceeds”, the Moscow Industry and Entrepreneurship Support Fund offers other loans. For example, bonds. Funds from such a loan can be used to pay for services for servicing the placement of bonds – trade organizers, consultants and rating agencies.

Last year, the fund began to provide funds for the implementation of IT solutions at the enterprise, including those from the list of the Technology Bank. Money can be obtained for the purchase of computer, server and network equipment, software for industrial needs, payment for the services of a system integrator, and much more.

For existing or potential exporting industrialists, the Export loan has been developed, and for those who are going to buy new equipment and expand production, the Industry loan has been developed.

Moscow expands measures to support industrial enterprises – Sergei Sobyanin

The Moscow Industry and Entrepreneurship Support Fund is an institution subordinate to the Moscow Department of Investment and Industrial Policy. Its goal is to provide financial support to the city’s industry, research and development enterprises, software developers, as well as Moscow exporters and companies that plan to start export activities.

More information about the economic policy and property and land relations of Moscow can be found at website.

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

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