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Sberbank launched lending to businesses at a rate of up to 5% per annum
Sberbank was one of the first to enter the business lending program for working capital replenishment at a rate of up to 5% per annum. The bank concluded a corresponding agreement with the Ministry of Economic Development of Russia.
Loans under the program will be issued for up to a year. According to the press service of Sberbank, the size of each loan is limited by the average monthly revenue of the borrower, reduced by the average monthly depreciation and average monthly net profit, while it cannot exceed three billion rubles.
According to Alexander Vedyakhin, First Deputy Chairman of the Board of Sberbank, support measures for the most affected sectors of the economy are being taken 24/7. The first loans under the new program will be issued in the coming days. Enterprises will be able to send money to pay for labor, insurance premiums, rental of premises and equipment, repair of equipment, payment of utilities, transportation costs.
This year, banks will receive 24 billion rubles in subsidies for the recovery of lost income on loans issued under this program. They must issue loans at a reduced rate for a total amount of up to 400 billion rubles. Demand for supply is high: more than 20 companies from the most affected sectors have already announced support needs.