As the effects of the new coronavirus continue for a long time, the government has put together a package of measures to comprehensively support the financing of small and medium-sized enterprises near the end of the fiscal year and future business revitalization.
The new measures have been put together by the Ministry of Economy, Trade and Industry, the Financial Services Agency, and the Ministry of Finance.
Specifically, in order to meet the demand for funds from the new fiscal year onward, the deadline for virtually interest-free and unsecured loans and crisis response loans by government-affiliated financial institutions will be extended from the end of this month to the end of June. In addition, the working capital loan period will be extended from the previous 15 years to 20 years in order to reduce the burden of repayment.
In addition, considering that the demand for funds from companies will increase toward the end of the fiscal year, we will gather representatives of public and private financial institutions on the 7th of this month and request that the Minister of State for Financial Services Suzuki thoroughly support the financing of small and medium-sized enterprises.
In addition, we have newly established an organization called the "Small and Medium-sized Enterprise Revitalization Council" that integrates the support functions of chambers of commerce and local governments nationwide, and established a system to centrally support new initiatives such as business revitalization of small and medium-sized enterprises. To do.
At the council, tax accountants and registered management consultants will give advice on management planning and regular advice on subsequent management, as well as strengthening the system and providing support systems such as subsidies for business recovery. It also has a function.
Minister of Economy, Trade and Industry Hagita said at a press conference after the Cabinet meeting, "We will strongly promote comprehensive support measures such as the establishment of a council to centrally support small and medium-sized enterprises."