Federation Council approved credit holidays for mobilized entrepreneurs

The Federation Council on Wednesday approved a law granting the mobilized founders of small and medium-sized businesses the right to credit holidays. Senators supported the bill unanimously.

The measure is aimed at supporting SMEs that have issued loans and credits before the conscription of their only participant and part-time head for military service as part of partial mobilization.

Credit holidays can be issued for the period of mobilization, increased after the first reading in the State Duma by 90 days, and extended if the mobilized is in the hospital with an injury or illness.

To receive a loan holiday, you must contact the bank before the end of 2023 and provide documents confirming the mobilization.

All federal measures to support entrepreneurs in conditions of partial mobilization can be found on the website of the Ministry of Economy of the Republic of Tatarstan at the link (the list is being supplemented).