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Government prepares support measures for 3 million SMEs

Government prepares support measures for 3 million SMEs

The Russian government is preparing support measures for three million small and medium-sized enterprises with the introduction of non-working days due to the rise in the incidence of coronavirus. First Deputy Chairman Andrey Belousov held a meeting with banks, the Ministry of Economic Development, the Ministry of Finance and the Federal Tax Service on the introduction of anti-crisis measures.

According to the press service of the Cabinet of Ministers, from November to December, 30 Russian banks will resume issuing concessional loans for SMEs and SONCOs at a rate of 3% per annum. Representatives of catering, travel agencies, hotels, cinemas, museums, zoos, sports, health organizations and companies organizing recreation and entertainment can apply for it. The main condition is to keep the number of employees at least 90%.

Loans up to RUB 300 million with government guarantees will be issued for up to 18 months. In the first six months, the entrepreneur will not pay off the loan and interest on it.

SMEs operating in the sports, HORECA, additional education, consumer services, culture, leisure and entertainment industries will be able to apply for a gratuitous grant from November 1 to December 15.

Payments will be made in eight working days from the date of filing an application with the Federal Tax Service. The size of the grant will be determined on the basis of one minimum wage per one employed, including the individual entrepreneur himself.

Russian President Vladimir Putin announced in Russia days off from October 30 to November 7. Wages for Russians on non-working days will remain.

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