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VTB began to issue soft loans for business

VTB began to issue soft loans for business
The first applications for entrepreneurs on loans under the state program approved by VTB. The total volume of soft loans issued amounted to 13 billion rubles.

According to the press service of VTB, only for the first day of work on the state program, loans worth four billion rubles were approved. Among the first companies to receive loans at 2% per annum are Zenden and Rendez-Vous shoe stores, FINN FLARE clothing retail chain, AKYAN St. Petersburg Hotel and others.

 Under the terms of soft loans, customers are exempted from making loan payments until December 28, 2020. If the company retains staff by 90%, then 100% of the debt will be repaid by the state. If the company retains 80% of its employees, 50% of the debt and interest on it will be written off. In addition, if the program conditions are met, the deferred payment period may be extended. The procedure for obtaining a loan is simplified.

 According to Denis Bortnikov, Deputy President and Chairman of the Management Board of VTB Bank, they began to accept applications for soft loans at VTB without waiting on June 1. At the same time, experts note a high demand for such loans since the announcement of such a support measure. Such a loan, according to Denis Bortnikov, enables companies to restore activity without increasing the financial burden.

  In addition to the enterprises most affected by coronavirus, companies from the register of socially oriented non-profit organizations can take support measures. Borrowed funds can be used for expenses related to entrepreneurial activity or refinancing of current loans. The loan amount is calculated by the bank on the basis of the minimum wage (with the district coefficient in the subject where the borrower is registered, and the rate for contributions from wages), the number of employees and the loan term. Financing under the new program is possible for a period up to June 30, 2021.
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