The banks of Moscow will receive subsidies from the government of the city

According to the decree, in order to receive a subsidy, it is necessary to submit an application. However, not all credit organizations apply for it.

The right to apply for subsidies from the Government of Moscow have the following credit organizations:

• having a banking license and complying with the mandatory standards of the Central Bank;

• owning additional offices in Moscow, credit and cash and operational offices;

• having experience in lending to SMEs over the previous two years;

• having a subdivision or individual employees, engaged in issuing the loans to SMEs, as well as monitoring the targeted use of borrowed funds;

• being Russian legal entities without foreign participation or with a share of less than 50%;

• not having the tax debts;

• not being at the stage of reorganization, liquidation, bankruptcy, as well as not being companies whose activities are suspended in an administrative procedure;

• not having received other subsidies for similar purposes from the Government of Moscow during the previous month in order to execute other decisions;

The applications for subsidies are accepted by the Moscow Department of Entrepreneurship and Innovative Development.

The period from the moment of filing the application and until the decision on the grant of the subsidy is made might take about a month and then the list of the organizations will be published on the official website of the Department.