3.1 billion rubles at 0% - interest-free lending program came to end in Tatarstan

On October 1, in Tatarstan, as well as throughout the country, implementation of the program of concessional loans at 0%, aimed at paying employees during the pandemic and the crisis caused by it, was completed. In the republic, this anti-crisis support for 6 months of its implementation was used by 1,159 entrepreneurs, which allowed them to attract credit funds in the amount of 3.1 billion rubles.

Let us recall that the program was launched in April this year, thanks to the fact that the Ministry of Economic Development of the Russian Federation signed an agreement with Russian banks on financing interest-free lending.

In turn, legal entities and individual entrepreneurs from the industries most affected by the coronavirus pandemic could apply for a preferential interest-free loan to pay salaries. Under the terms of the program, interest on loan was paid from the federal budget, while for the borrower it was zero. In case of extending the loan for a period of more than 6 months, after the sixth month, the subsidizing of the rate was terminated.

The loan amount was calculated as follows: 1 minimum wage in the region (for Tatarstan this figure is 12,130 rubles + social contributions) * number of employees * 6 months.

More than 17 leading banks represented in the republic joined the program. During a pandemic, the measure became timely and necessary, since the country's leadership was faced with the task of maximizing the number and employment of the working population.