The latest benefits announced by the Government such as $ 500 thousand bonus and the soft loan with 0% interest rate, are just one step away from becoming a Law and thus benefit thousands of middle-class workers who have seen their incomes reduced.
In the case of the loan, the beneficiaries must prove certain remuneration and income reduction requirements. For this benefit, people will have payment facilities and also the possibility of canceling their debt.
How to apply for the Solidarity Loan for the Middle Class?
The benefit of Solidarity loan for the Middle Class It can be purchased for up to four months, with a maximum monthly amount of $ 650,000.
In addition, it was added that its payment may be made within four years with the possibility of cancellation.
Which are the requirements?
- Being a worker with a monthly average of income received in 2019 equal to or greater than $ 400,000.
- That due to the Covid-19 health and socioeconomic crisis, you experience a decrease of at least 30% of your monthly income.
In addition, applicants may be in the following conditions:
- Unemployed or dependent workers with a suspended employment contract who are receiving Unemployment Insurance benefits, or are unemployed and have already exhausted their insurance resources.
- Dependent workers who have suffered a decrease in their remuneration, including workers with a pact to temporarily reduce the workday.
- Workers who issue fee tickets and have had their formal earnings reduced.
- Natural persons organized as individual companies (own account).
What will the loan payment be like?
Regarding the payment of this Solidarity Loan for the Middle Class, the Government established a series of rules for its future cancellation.
Thus a plan was established covering the following steps:
- It will have a payment term that has a year of grace.
- He first annual payment will be in April 2022 (for 10% of the total amount requested), and the following three payments in the years of 2023, 2024 and 2025 for 30% of the total amount.
- The payment of each annual fee for April of the period 2022-2025 may not exceed 5% of total income of the person during the previous year.
- Any part of the loan that has not been paid after the year 2025 will be forgiven immediately.
- In addition, it must be taken into account that the annual reimbursements are paid, as of September 2021 3% will be recharged through tax withholdings (payroll discounts, withholdings on fee tickets and PPM payments).
It is important to note that this state solidarity loan will have a real interest rate equal to 0% (will only be reset by IPC).
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