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Business in Russia will be given loans for salaries
Starting next week, in Russia, in pilot mode, they will launch a new measure of support for business - emergency loans for the payment of salaries. Sberbank and VTB will issue them. Measures will be taken due to the coronavirus pandemic and the deterioration of the economic situation.
As the first deputy chairman of the Russian government, Andrei Belousov, said at a meeting between the president and entrepreneurs, loans will be given for six months and under subsidized interest rates.
“In the extreme case, to zero and with a high guarantee coverage. Because we well understand that small businesses now have no collateral, ”said Belousov.
The project itself, according to the first deputy chairman, is being implemented with the help of a credit line opened by the Central Bank. At the same time, the authorities do not intend to launch a bankruptcy procedure for enterprises that will not be able to pay taxes in six months. Two options will be considered: installment plan, or extension of the grace period.
President Vladimir Putin said earlier that small and medium-sized businesses in Russia will receive deferral of all taxes and loans for six months due to the coronavirus pandemic and the worsening economic situation. The measure will not affect only value added tax.