Application

Loan payment holidays for businesses may be granted under Federal Law No. 106-FZ, which has a limited period of validity. For sole proprietors, unlike LLCs, there is an option to choose repayment of part of the loan payment. Requirements for Small and Medium Enterprises (SME) to obtain a payment deferral:

• the borrower must be included in the SME Register;
• the borrower's OKVED code must be included in the list approved by the Government of the Russian Federation;
• the loan agreement must have been concluded before 01.03.2022.

For a small or medium-sized business to obtain a deferral of loan payments, the person holding the highest administrative position in the company must apply to the bank. The application must specify:

• the name of the organization;
• its actual address;
• Taxpayer Identification Number (TIN);
• the specific type of loan and the agreement number;
• the grounds for loan payment holidays, the start and end date of the deferral, and its total duration;
• information on the suspension of payments.

A bank employee may offer you a template for such an application, which will need to be completed.

An individual entrepreneur may qualify for loan payment holidays in two ways.

• As a representative of small or medium-sized business, if their activity is related to industries affected by sanctions (Resolution of the Government of the Russian Federation No. 337 dated March 10, 2022).
• As an individual, if they have taken out a personal loan for an amount of up to RUB 350 thousand.

In the first case, the sole proprietor submits the following documents to the bank:

• an application for a payment deferral (in person, by phone, or in their account on the bank's website);
• a document confirming a decrease in income for the previous month by 30% or more (a certificate from the tax authority).

In the second case, it is also necessary to submit to the bank an application for a payment deferral (in person, by phone, or in their account on the bank's website), however, there is no need to confirm income. It is sufficient to indicate in the application the business activity code in accordance with the OKVED code specified in the Unified State Register of Individual Entrepreneurs, provided that it is included in the list of industries affected by sanctions.

Please note that since 2022, providing documents to arrange loan payment holidays is not an obligation, but a right of the Borrower. The bank may independently request the necessary information from the Federal Tax Service, the Pension Fund of the Russian Federation, and the Social Insurance Fund of the Russian Federation.