Tatarstan entrepreneurs received 13.5 billion rubles to maintain employment

On November 1, implementation of the program on concessional lending at 2%, aimed at supporting employment, comes to its end. The program demonstrates high demand among Tatarstan entrepreneurs, whose activities are classified as sectors of the economy affected by the pandemic. As of the end of last week, banks issued 6,279 loans worth 13.5 billion rubles.

Let us recall that companies from affected industries and socially oriented NPOs (included in the register of SO NPOs) can count on loans. An exception is made by individual entrepreneurs without employees. The entrepreneur can use the money received to carry out entrepreneurial activities, including the payment of salaries to employees, or to repay previously taken loans, including an interest-free loan for labor remuneration.

It is worth noting that the final loan rate for consumers will be 2%, the rest is subsidized by the state. Subject to the terms of the program, the interest on loan does not require monthly repayment, it is capitalized, that is, it will be added to the principal debt and paid at the end of the loan agreement along with the “body” of the loan. The maturity date of the concessional loan is June 30, 2021.

At the same time, enterprises that retain at least 90% of employees compared to the number of employees as of June 01, 2020, 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 staff, the borrower will only have to repay half of the loan and interest on it. According to the Ministry of Economic Development of Russia, as of September of this year, 95% of borrowing enterprises comply with the requirements for maintaining the number of full-time employees.