Crimean business can get a preferential loan at an interest rate of 2% to renew operations

According to the press service of the Ministry of Economic Development of the Republic of Crimea
29 May 2020

Crimean business can get a preferential loan at an interest rate of 2% to renew operations. Deputy Chairman of the Council of Ministers of the Republic of Crimea – Minister of Finance of the Republic of Crimea Irina Kiviko told about the new program of preferential lending at an interest rate 2%. Russian National Commercial Bank has become a participant of such program.

"Russian National Commercial Bank has become a participant of the Federal program of preferential lending. From June 1, legal entities and individual entrepreneurs will be able to use the new program of state support-loans for the resumption of activities at an interest rate of 2%. The program has an important nuance with All-Russian classifier of types of economic activity codes: not only the main one will work, but also additional ones. At the same time, you can work not only in the affected industries," explained Deputy Prime Minister.

Irina Kiviko added that those companies that have retained at least 90% of employees by April 1, 2021, the loan will be written off along with interest – the entire amount will be paid by the state. If at least 80% of employees remain in the state by this time, the entrepreneur will have to pay back only half of the loan and interest on it.

The program is regulated by the Decree of the Government of the Russian Federation dated May 16, 2020 № 696 "On approval of the Rules for granting subsidies from the Federal budget to Russian credit organizations to compensate for their lost income on loans issued in 2020 to legal entities and individual entrepreneurs for the resumption of activities".

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