What documents does a sole proprietor need for a loan payment holiday?

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.