Rosbank and MSP Bank offered a joint support program for small and middle business

    12 May

Rosbank and MSP Bank offered a joint solution for acting Rosbank clients-representatives of small and middle business – a 0% lending for salary payment.

A credit product is aimed at financing salary payment and employment retention on a monthly basis during a half-year period from the moment of loan granting.  The calculation of a loan volume is carried out on the basis of the minimum wage and the number of staff members. The loan term is up to 12 months with repayment of all debts at the end of the term, the rate for the first six months is 0% per annum. The main condition is that the borrower has been operating for at least 1 year in one or more industries in accordance with the list of sectors of the Russian economy most affected by the spread of a new coronavirus infection, as determined by the Government of the Russian Federation.

"Small businesses today are in an extremely vulnerable position, so it is extremely important to provide them with all possible support. Thanks to the joint program of Rosbank and MSP Bank, entrepreneurs can get an interest-free loan to pay salaries to their employees, which will help save staff, job and business in this difficult time," Dmitry Smirnov, Director of Small Business Department of Rosbank.

Mikhail Afanasiev, Director Regional Programs Department of MSP Bank noted: "Expanding of access to interest-free lending to maintain employment among SMEs is our opportunity to support businesses in the difficult conditions that have developed in our country and the world due to the spread of coronavirus. We expect that thanks to preferential support, entrepreneurs will be able to maintain their professional team and quickly return to full-time work after the end of restrictions."

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