The Central Bank of Russia published an update on a law approved by the State Duma in the second and third readings that would allow small and medium-sized enterprises (SMEs), individual entrepreneurs and self-employed persons to request six-month loan repayment holidays. The holidays would be available for each outstanding loan once every five years, including for loans issued under subsidised SME lending programmes, and would not depend on the borrower’s sector or whether earnings have declined. Approval of a repayment break would depend on loan size limits: up to RUB 60 million for micro businesses, RUB 400 million for small businesses, RUB 1 billion for medium-sized businesses, and RUB 10 million for self-employed persons, with the Russian Government able to revise these thresholds. Interest will continue to accrue at the contractual rate and be capitalised monthly during the holiday, and borrowers may apply under agreements signed before the law’s adoption but no earlier than 1 March 2024; the law is set to take effect on 1 October 2025 and does not restrict banks from offering restructurings or repayment holidays under their in-house programmes.
Central Bank of Russia 2025-07-22
Central Bank of Russia details State Duma-approved law giving SMEs and self-employed access to six-month loan repayment holidays
The Central Bank of Russia announced a law allowing SMEs, individual entrepreneurs, and self-employed persons to request six-month loan repayment holidays every five years for loans under subsidised SME lending programmes. Approval depends on loan size limits, with interest accruing at the contractual rate during the holiday. The law takes effect on 1 October 2025, permitting applications for agreements signed before its adoption but no earlier than 1 March 2024.