An expert spoke about the advantages of the mechanism of credit vacations

The introduction of the mechanism of credit vacations in Russia will allow entrepreneurs in a difficult financial situation to avoid bankruptcy, and banks to reduce the risk of non-repayment of the loan, Director General of the SME Corporation Alexander Isaevich told Izvestia.

Earlier, on December 12, it was reported that the mechanism of credit vacations for small businesses may work not earlier than mid-2025. This was stated to "Izvestia" in the Central Bank (Central Bank) of the Russian Federation. We are talking about the possibility for small and medium-sized enterprises (SME) to take a pause of up to six months without deteriorating credit history.

"The proposed mechanism is not a novelty: such a measure has already been temporarily introduced for businesses during the pandemic in 2020, as well as to support entrepreneurs affected by sanctions in 2022, and has shown high demand," Isaevich said.

At the same time, he specified that against the background of changes in the key rate of the Central Bank of the Russian Federation this year, the need to resume such a practice, turning credit vacations into a permanent measure of support becomes obvious. This approach will allow to get a deferral of payments from the bank on legal grounds and without affecting the credit history.

"Today, the portfolio of loans to SMEs amounts to about Br15 trillion. The adoption of the law will allow entrepreneurs in a difficult financial situation to avoid bankruptcy, and banks to reduce the risk of non-repayment of the loan," Isaevich concluded.

A break is in the works: credit vacations for SMEs postponed until at least July 2025

Why the authorities are delaying the introduction of a grace period for small businesses, despite the relevance of this support measure

In early November, it was reported that postal communications and courier services, employment and recruitment activities, as well as IT in the first nine months of 2024 became the areas with the maximum share of new businesses from the total number of small and medium-sized enterprises (SMEs). This follows from the data of the SME Corporation. Isaevich specified that the increase in the share of new SMEs is due to several factors, the main of which are increased demand and the expansion of state support measures for enterprises in certain industries.