Small and medium-sized businesses will be able to receive preferential loans at 3-4.5%

Prime Minister Mikhail Mishustin signed resolution, according to which small and medium-sized enterprises (SMEs) will be able to take soft loans for the restructuring and development of production at 4.5% and 3% per annum, respectively. The benefit program is valid for three years. You can take out a loan for ten years.

As a priority, loans will be available to SMEs in the field of agricultural processing, logistics and hotel business. The money received at a preferential rate can be spent on the purchase of equipment, the overhaul of production facilities or the launch of new industries. The government expects that by the end of the year the volume of loans issued will reach about 50 billion rubles.

Launch of the benefit program announced in early August, the head of the Ministry of Economy Maxim Reshetnikov. He said that business needs investment loans “to restructure production processes and develop import substitution.” Mr. Mishustin supported this initiative.

The government began to introduce measures to support business amid sanctions imposed in response to the Russian military operation in Ukraine. In July, the business activity of SMEs is slightly increased, and 13% of enterprises noted an increase in sales. Against this backdrop, the Ministry of Economy proposed to adjust the terms of the government’s key concessional lending program for SMEs.

Details – in the publication “Kommersant” Borrow but invest.

Laura Keffer