Entrepreneurs of Tatarstan received a loan deferral for 16.3 billion rubles

Restructuring carried out within the framework of state and intrabank programs played a critical role in the most acute period of the crisis caused by the COVID-19 pandemic, in the second quarter of this year, when most enterprises stopped their activities and citizens’ incomes decreased. Credit institutions have restructured 2,127 loans to legal entities in the amount of 16.3 billion rubles in the Republic of Tatarstan.

Let us remind you that the Central Bank gave regulatory relief, which allowed banks to reduce the financial burden during the crisis caused by the pandemic, while not increasing reserves and allowing individuals and businesses to restore creditworthiness. It should be noted that as of July 1, 2020, the share of overdue loans on loans to SMEs is 7.5%. This is lower than at the beginning of the year, when the share was 8.5%.

Loan restructuring has become one of the primary measures that small and medium-sized businesses needed during the pandemic. The measure is aimed at supporting borrowers experiencing difficulties with payments. Currently, the restructuring allows you to direct funds for the development and resumption of business after the pandemic, temporarily reducing the debt burden of the entrepreneur.

In addition to government restructuring programs, the republic has intra-bank credit restructuring programs. The programs provide for changes in terms of the agreement, taking into account the suspension of the borrower's fulfillment of their obligations for a period not exceeding 6 months or a decrease in the amount of payments during the grace period.

At the same time, when the borrower is granted the right to defer payment, the interest rate under the loan agreement should not increase, obtaining a loan vacation does not worsen the credit history. Entrepreneurs can also count on reducing the amount of deferred debt due to federal subsidies for banks, if the credit institution participates in the program of the Ministry of Economic Development.