Providing microloans to SMEs in the tourism sector
01 February 2021
The provision of microloans for the tourism industry on favorable terms was initiated by the Committee for Tourism Development of Saint Petersburg.
In St. Petersburg, the Program for the provision of microloans to small and medium-sized businesses in the tourism sector was approved in order to pay salaries to employees and pay mandatory deductions for taxes and contributions from the payroll fund. The loan amount ranges from 50,000 to 5,000,000 rubles. The interest rate under the loan agreement is: 0 percent per annum for 1 - 12 months, 3 percent per annum for 13-24 months, and 3 percent per annum for 25 - 36 months.
Loan term: from 6 to 36 months. A deferral is provided for the repayment of the principal amount of the loan and interest in the first 12 months after its issuance. Loans are provided without collateral, guaranteed by the beneficial owners / founders / shareholders who own a controlling stake in the company for the full loan amount.