Entrepreneurs of Tatarstan received a reprieve on loans worth more than 21.7 billion rubles

Within the framework of internal restructuring programs, banks in the republic have satisfied 2332 applications from entrepreneurs in the amount of more than 21.7 billion rubles. Tatarstan businesses had the opportunity to apply for a suspension of their obligations for a period of no more than 6 months or a reduction in the amount of payments during the grace period until July 1, 2021, according to the recommendation of the Central Bank of the Russian Federation.

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 who are experiencing difficulties with payments. This year, the restructuring allows you to direct funds to the development and resumption of business after the pandemic, temporarily reducing the debt burden of the entrepreneur.

Intrabank restructuring programs provide for the possibility of changing the terms of the contract, taking into account the suspension of the borrower's performance of its obligations for a period of no more than 6 months or a reduction in the amount of payments during the grace period.

At the same time, when granting the borrower the right to defer payment, the interest rate under the loan agreement should not increase, obtaining a credit 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.

An individual entrepreneur can also restructure a consumer loan and request for a grace period either a complete suspension of payments, or a reduction in their size to a feasible level.