Labor compensation fund: New benefits for crisis-affected industries
Organizations from industries affected by COVID measures, which received a preferential loan at 2% under the FOT 2.0 program in 2020, will be able to take advantage of a similar opportunity this year, but at a new rate of 3%. A prerequisite is the retention of 90% of the staff during the duration of the loan agreement.
The interest-reduced loan can be taken from March 9 to July 1, 2021 for a period of maximum 1 year. At the same time, there is a delay in payments on the main debt and interest for the first 6 months. The maximum loan amount is 500 million RUR. It is calculated based on the number of employees multiplied by the minimum wage (12'792 RUR) for a period of 12 months.
The funds under such a loan agreement cannot be spent on paying dividends, redemption of own shares or stakes in the equity capital nor on charity.
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