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Small Businesses will Get Interest-free Loans from Banks
8.04.2020 09:16
Small Businesses will Get Interest-free Loans from Banks

From April 8, small businesses will be able to receive interest-free loans from banks.  The Russian authorities instructed to accelerate the allocation of funds to banks for the issuance of interest-free loans to small businesses, Kommersant reports. Loans at 0% may qualify for companies belonging to the most affected sectors of the coronavirus epidemic. Interest-free loans will be issued for lending to the payroll fund.

      Sberbank, VTB, MSP-Bank, Promsvyazbank, Gazprombank, Alfa-Bank and Otkrytie will receive funds from the Central Bank. Starting on Wednesday, April 8, these banks will begin to issue money to entrepreneurs to support employment. It is reported that it is already possible to get a loan at Sberbank and VTB. The maximum loan size will depend on the number of employees in the company and the minimum wage for six months.


Author: Anna Dorozhkina

Tags: Russian business Russian banks coronavirus   

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