Businesses and self-employed affected by shelling have improved conditions for preferential microloans

The government has improved the conditions under which shelling-affected small and medium-sized businesses and the self-employed in regions with a medium response rate can receive microloans from state-owned microfinance institutions. About it informed Ministry of Economics, who came forward earlier with this initiative.

The amendments were made to the state program “Economic Development and Innovative Economy” and approved by a resolution signed by Prime Minister Mikhail Mishustin.

“In cooperation with the regions and local businesses, we are finalizing support measures, taking into account the current situation. Preferential microloans in addition to grants for entrepreneurs will be another tool aimed at supporting activities SME in the current situation,” said Tatyana Ilyushnikova, Deputy Head of the Ministry of Economics.

The interest rate on loans for such entrepreneurs and the self-employed will no longer be able to exceed the key rate of the Central Bank in force at the time of the conclusion of the loan agreement. Previously, the figure could reach 2.5 key rates. In addition, the term for consideration of an application for a guarantee or guarantee in a regional guarantee organization is reduced to one business day. Previously, the application was considered 3-10 days. The maximum rate of remuneration for providing a surety or guarantee cannot exceed 0.5% (previously it was 3%).

The requirements for borrowers have also been relaxed: they will no longer be checked for overdue debts on the return of subsidies, budget investments and other debts to the budget.

The average response level by decree of Russian President Vladimir Putin has been in effect since October 19, 2022 in eight regions: Crimea, Sevastopol, Krasnodar Territory, as well as in Belgorod, Kursk, Voronezh, Bryansk and Rostov regions. In the new regions of the Russian Federation – the DPR, LPR, Kherson and Zaporozhye regions – martial law has been introduced.

Earlier, Boris Titov, Commissioner for the Protection of the Rights of Entrepreneurs under the President of Russia, in a letter to Mishustin, reported on complaints from businesses from regions of “medium response” about the destruction of buildings and infrastructure of enterprises, wrote “Vedomosti”. The volume of total losses is calculated in “billions”, the business ombudsman pointed out, but did not give exact calculations.

In this regard, Titov suggested creating a unified register of affected enterprises in such regions, which would include data on companies and the amount of damage they suffered, follows from the letter. The list was proposed to be created to provide them with state support. To determine the amount of damage, the Commissioner proposed to allow independent appraisers to the facilities and develop a unified methodology for them.