Central Bank of Russia announced preferential loans for SMEs

The Central Bank of the Russian Federation, along with the Cabinet of Ministers, developed a plan to support SMEs.  One of the measures should be a program of concessional lending in a number of banks.  The total amount of funding under the program exceeded 670 billion rubles.

The corresponding message was published on the website of the regulator the day before. It says that more than twenty credit institutions will participate in the program. In addition, the possibility of replenishing the published list was noted. This will happen as new agreements are concluded with banks that meet the requirements stated by the Central Bank.

The aim of the program is to provide entrepreneurs with preferential loans for up to one year to replenish working capital or refinance an existing loan.

340 billion rubles have been allocated for these purposes. As part of the assistance, micro and small businesses have the right to receive a new loan or refinance an existing one at a reduced rate. The amount of borrowed funds provided in this way should not exceed 300 million rubles, and the rate should not exceed 15% per annum.

As for medium-sized businesses, the amount of funds potentially provided by banks is up to 1 billion rubles, and the rate is not more than 13.5%.

In both cases, the term of the loan should not exceed 1 calendar year. At the same time, there are no restrictions on the purpose of lending.

Tap the link to get more information about the list of participating banks and approved support programs.