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VTB has started accepting applications for soft loans for business
VTB began issuing soft loans for small and medium-sized businesses. The rate will be 7% per annum.
According to the press service of VTB, loans are issued under the 1764 Program. According to the deputy president and chairman of the bank's board Denis Bortnikov, this product allows thousands of entrepreneurs to receive affordable financing, which is especially important during a pandemic.
Business entities from various industries, from manufacturing to trade, can use a preferential loan. In total, the state program provides for 20 priority sectors that can count on preferential loans. Subsequently, government subsidies are provided to the credit institution for curbing low rates.
The received loan can be used to replenish working capital for up to three years, for investment purposes - up to 10 years, as well as for other needs or refinancing.