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Sberbank will support a program of soft loans for entrepreneurs
Sberbank will issue soft loans to all segments without restrictions from industries affected by the coronavirus pandemic. The loan amount is determined by the number of borrower employees multiplied by the minimum wage and the number of full months until December 1, 2020 from the date of the loan. It will be possible to repay the loan until March 2021.
The program provides for the possibility of prolongation, subject to a number of conditions, which are aimed at maintaining the number and confirming the effective operation of the company. As Anatoly Popov noted, the new state program differs from the previous target program in that it has no restrictions on the number of company employees. According to the bank's calculations, enterprises with a total number of employees of about seven million can apply for a loan under the program.
“Sberbank has planned the first pilot transactions in the coming weeks, and the mass launch will take place on June 1,” said Anatoly Popov.