The Ministry of economy of the Republic of Tatarstan for the second time extended the acceptance of applications for subsidizing rates on loans for business

Entrepreneurs will be able to apply for exemption from the credit burden this year until December 13.

The Ministry of economy of the Republic of Tatarstan has again extended the acceptance of applications from entrepreneurs applying for subsidies to repay the interest rate on loans from Russian banks.

The program of 100% subsidization of interest payments on loans for small and medium-sized businesses of Tatarstan started on October 3 this year. The support measure assumes that the subsidies reimburse the interest actually paid. The entrepreneur pay "body" of the loan on his own. The maximum amount of financial assistance per recipient is 10 million rubles per year. In total, more than 130 million rubles were allocated for the program in 2019.

This year, the acceptance of documents for participation in this program was scheduled to be completed in mid-November. Due to the growing demand from entrepreneurs, the Ministry of economy of the Republic of Tatarstan extended the terms of admission first until November 29, and now - until December 13. 

"We have received more than a thousand requests for advice on registration of the necessary documents for participation in the program, but not all entrepreneurs have time to apply. The high demand is explained by the fact that subsidizing the interest rate is a real tool that removes a significant share of the credit burden from the entrepreneur – - RT Minister of economy Farid Abdulganiev commented on the decision. – In addition, this support measure is flexible enough. Entrepreneurs have the right to dispose of the subsidy at their discretion: to cover the rest of the loan, or to direct to the development of your business. The total amount of support provided to date exceeds 59 million rubles, which is almost half of the annual budget of the program."

The conditions for consideration of an application remained the same: entrepreneurs are reimbursed for all actually incurred and documented costs associated with the payment of interest on loans borrowed from Russian credit institutions not earlier than January 1, 2017. At the same time, the interest rate on the loan should not exceed the weighted average interest rate calculated by the Central Bank of the Russian Federation for the last 3 years (14.13%).

You can apply from Monday to Thursday from 9.00 to 17.00 and on Friday from 9.00 to 16.00. Address for submitting documents: Kazan, Moskovskaya str., 55, office 521. Telephone for consultations: 236-29-96.