How to get loan payment holidays for small and medium-sized businesses?

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.