the Company lost up to 75% of revenues in the first quarter of 2020 due to the spread of coronavirus, the McKinsey analysts found. Results for the second quarter have not been announced yet, but it is clear that the impact of the pandemic will be essential. In these circumstances, the business helps that meet him are the authorities and creditors. We understand what kind of support entrepreneurs can provide banks with the assistance of the state.

to Build business credit is a normal practice in countries with developed financial markets. Of course, Russia is no exception: there are loans for most entrepreneurs. In the conditions of falling demand and restrictive measures, debt restructuring and the delay it became one of the most frequent queries of the business to the banks. Creditors entered in the position of customers: according to the Central Bank, from March 20 to June 30, the banks received 135,5 thousand applications from SMEs. Approved almost 73% of the number considered. Only small and medium businesses had the opportunity to restructure debt in the total amount of more than 666 billion.

Without profit companies had to pay staff salaries and to cover mandatory payments, e.g. for rent. Real steel preferential loans under several government programs. In April, the companies have offered annual loans for the payment of a salary at the rate of 0% per annum in the first six months and 2.5% for the remaining period. After June 1, banks began to issue loans to maintain employment with a rate of 2% per annum on the deferred payments. The program has been very popular. Borrowed funds it is possible not to return, if the company will retain employment above 90% of the number of employees. If jobs will be filled by not less than 80% will be charged half of the debt. Such loans for the restoration of activity issued the largest Russian banks. According to VTB, often for concessional loans was contacted by the representatives of the sphere of public catering, hotel business, transport and freight trade.

the confessions of businessmen and tax credits for the restoration activities and the payment of wages have become a real financial assistance during the period of isolation and after it.

“credit for the resumption of activity at 2% with a possible write-off under the conditions of the program for our company was a “breath of air”, – says Irina Kornienko, Director of the Tver company “Interstyle” engaged in the production of men’s suits. “As the whole country we were shocked by the announced period of days. In the first week of restrictions, we began to actively seek orders for tailoring of medical devices, as work was only possible to enterprises producing equipment for personal protection, and as a result went to bigth manufacturer of medical masks, becoming its subcontractor. In April and may we made 390 600 masks. But then the need for the masks was reduced, began shipments from China at a lower price. In June the Government were allowed to resume our main activities – sewing men’s and children’s classic elite costumes.

At this point, and the resolution of the Government on the launch of the loan program at 2%, says our interlocutor. It was very timely, as the masks we have earned meager money, which was just enough salary to save staff jobs, and the taxes and insurance premiums remained unpaid.

code OKVED we got into the program and immediately turned to the two banks where we have accounts. The first to react VTB, and very quickly. On June 1 we filed, and on June 9 they received a loan. I want to note the high professionalism of the staff, which told in great detail about all the details of this program and gave recommendations on how to properly use the credit received.

since our products are supplied to retail stores across the country, and they are still not all regions are open, problems with the implementation of our products still remain, but we have received will help us through this difficult period, we hope for the best,” added Irina Kornienko.

VTB Bank provides loans at 2%, not only existing customers. OOO “Alibi” from Ekaterinburg with the financial organization had not previously collaborated, but this credit organization received a life-saving loan. “We really affected the industry. We have three bars, two shops, which are still not open. In the Sverdlovsk region restrictions from restaurants weren’t. Four months of downtime… And the number of employees at us rather big. Salaries we continue to pay, accounts receivable grew. Really the question was about firing people. Other loans were not given to us, our simple some banks are considered high credit risks. When the government announced a loan program at 2% for the restoration activities, we have addressed in VTB not being their clients. The whole process from filing to receiving the money just a few days,” – said the founder of the company Pavel Petrov.

Along with the restaurant business from the coronavirus has affected the tourism industry, which will continue to experience the pressure of limitations. The company of Sergey Alekseeva, OOO “Fregat Aero” is engaged in sale of vacation packages and tickets to Vladivostok: February sales dropped to virtually zero. “In fact, we Feb in simple. Sale of tickets has fallen by 70% and package tours – 100%. Until now, the offices are not opened, work only online. While prod��m tours for domestic flights. Moscow tour operators to open Charter flights from Vladivostok in the Crimea, Sochi, Abkhazia. The recovery of the tourist market, I think, will be only by next spring, says its disappointing forecast, the entrepreneur – In this case employees, we was not fired, moved to a remote part-time work day. Retaining staff was one of our main objectives. We began to look for resources for payment of salaries. First helped a subsidy from the state in the amount of the minimum wage for each employee. When the government announced a loan program at 2% with a possible cancellation, we immediately turned to VTB, which cooperate within the framework of cash management services, card acquiring, Bank guarantees, other credits. We expect that the team will save and next spring will close the contract write-off the entire amount of the loan”.

according to these stories, the priorities of the Government and lending institutions were chosen is correct. The set of these measures actively stimulates the recovery of the business, and can be a catalyst for a new round of economic growth.