Translation. Region: Russian Federal
Source: Central Bank of Russia
An important disclaimer is at the bottom of this article.
Any business that needs a break from servicing its loan can receive a payment deferment, regardless of whether its revenue has decreased.
The maximum loan amount eligible for payment holidays depends on the size of the business: up to 10 million rubles for the self-employed, up to 60 million rubles for microenterprises, up to 400 million rubles for small companies, and up to 1 billion rubles for medium-sized companies.
A loan holiday can be taken once every 5 years for a period of 6 months for each loan, if the entrepreneur has several.
The law applies to loans and credits issued from March 1, 2024. During the grace period, businesses are exempt from paying the original debt, but interest will accrue at the rate specified in the agreement and may be capitalized monthly.
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