The government has decided to revise the program of concessional lending to small and medium-sized businesses at the rate of the Central Bank of 2.75%, the Izvestia newspaper reports . According to the draft resolution, it is proposed to cut subsidies to banks for issuing such loans by three times, and cut the maximum loan amount for small businesses and "microbusiness" from 2 billion rubles to 500 million rubles and 200 million rubles.
In accordance with the draft government decree, only medium-sized businesses will now be able to count on soft loans of up to two billion rubles. Small businesses will have access to loans in the amount of up to 500 million rubles , micro-enterprises - in the amount of up to 200 million rubles . Also, the period for subsidizing banks to reduce the rate will be reduced from 10 to five years, and the maximum term of a financing agreement for replenishment of working capital - from three years to one year.
It is also planned to reduce the level of compensation to banks with a low interest rate - such a measure will apply to construction companies and participants in the rental market for both movable and immovable property (reduction from 3% to 1%). Finally, we are talking about a ban on obtaining soft loans by companies founded by large businesses with a share of more than 25%, finanz.ru informs . Also, the government plans to prohibit issuing more money to authorized banks for investment purposes than to replenish working capital. At the moment, this ratio is approximately 70% to 30%.
Sberbank notes that the new rules may create risks of a slowdown in lending rates, since they will limit the amount and terms of agreements.
The very program of concessional lending to small and medium-sized businesses within the framework of the national project was launched by the Ministry of Economic Development in February 2019, 90 banks were its participants. In the spring of last 2020, anti-crisis amendments were made to this program for a period of two years, which simplified the requirements for the borrower. The requirements for the absence of arrears in taxes, fees, wages, and the absence of payments under loan agreements overdue for more than a month were excluded. The possibilities for refinancing loans were also expanded, it became possible to obtain loans at a preferential rate by micro-enterprises operating in the field of trade and selling excisable goods.
However, already at the end of March, the head of the Ministry of Economic Development Maxim Reshetnikov said that the conditions of the program, which were significantly relaxed at the peak of the crisis caused by the coronavirus pandemic, would have to be changed as the economy recovers.
Recently, the government began to curtail other programs to support citizens, including support for consumer demand: from February 15, in particular, the programs "First Car" and "Family Car" were canceled. The Family Car program entitled families with children to a 10% discount when buying a new car worth up to 1.5 million rubles. Experts suggested that the cancellation of this state program will negatively affect the purchasing power of motorists in Russia and bring down demand.