Governmental Support Gets in Fashion

Krasnodar, 14 July. About 3,000 Kuban companies have reportedly received credits at 2% bank interest. 

According to the regional Ministry of Economy, this was one of the most sought-after support measures among the businesspeople. 

The peculiarity of these loans is that under certain conditions they may not be fully or partially repaid. If the borrowing company has preserved at least 90% of its staff registered on 1 June, 2020 until March 2021, the entire loan, interest included, will be repaid by the government. The companies that will retain 80% to 90% of the staff will have to repay only a half of the credit and the interest. 

“However, of in some months [during the credit term] the staff has reduced by more than 20% compared with June 2020, the bank will not issue new sums, and both the credit and the interest will have to be repaid within the following three months. Until April 1, the rate will remain at 2%, but then the bank will be charging interest at the usual rates, depending upon the credit total and duration. 

The total number of applications for the 2% credit had been 7,846, to the aggregate amount of more than 18 billion roubles.

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