Iran Chamber of Guilds has referred 40,000 affiliated businesses to banks to receive government-backed coronavirus bailout loans, an official with the chamber said.
Noting that guilds were expecting to receive grant as well loans but under the current circumstances the government cannot offer more financial help, Hoshyar Faqihi added that individuals with self-employed insurance policies and those without the insurance of Social Security Organization won’t qualify for these low-interest loans, ISNA reported.
Early June, Faqihi said coronavirus lockdowns inflicted monthly losses worth 260,000 billion rials ($1.31 billion) on local businesses under the supervision of ICG.
“The chamber has identified and introduced 57 groups of businesses to the government to receive coronavirus bailout, of which 25, including coffee shops, reception halls, beauty salons, clothing units and bag and shoe shops, have been found eligible to receive loans at the interest rate of 12%,” he said.
The monthly losses incurred by these 25 groups are estimated to stand at 143,000 billion rials ($725.88 million) and those of the remaining 32 groups at 122,000 billion rials ($619.28 million). The latter did not qualify for government loans.
“About 2.3 million people are working in sectors that were not found eligible for the bailout and 2.8 million people are working in guilds that will receive government aid,” he said.
The Central Bank of Iran recently expanded the list of businesses directly hurt by the outbreak of coronavirus and therefore eligible to receive government-backed loans, by adding broiler chicken farms, greenhouse businesses and ornamental fish breeders.
The old list published on CBI website included the following businesses and jobs:
1. Businesses, institutions and companies responsible for any meal prepared outside the home, including restaurants, reception halls and coffee houses. The Ministry of Industries, Mining and Trade is responsible for determining whether these businesses are eligible to receive government aid.
2. Businesses active in tourism and hospitality sectors, namely hotels, apartment hotels, tourists centers, centers receiving pilgrims, guest houses, eco-lodges, leisure centers and museums. The onus is on the Ministry of Cultural Heritage, Handicrafts and Tourism to conclude which businesses deserve government aid.
3. Transportation companies, namely air, road, rail and marine transportation firms. The Ministry of Roads and Urban Development will determine which businesses are eligible to receive government aid.
4. Intra-city public transport companies. The Interior Ministry will ascertain whether they qualify to receive government loans or not.
5. Travel agencies. The onus is on the Ministry of Cultural Heritage, Handicrafts and Tourism to clarify the businesses qualified to receive government aid.
6. Apparel manufacturers and distributors. The Ministry of Industries, Mining and Trade will establish the eligibility of these businesses.
7. Manufacturers and distributors of footwear and bags. The Ministry of Industries, Mining and Trade verifies the eligibility of these businesses.
8. Confectioneries and shops selling nuts, dried fruits, ice-cream and fresh juice. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.
9. Gyms, sports and leisure centers. The onus is on the Ministry of Sports and Youth to determine whether these businesses qualify to receive government aid.
10. Cultural, educational and art centers as well as media groups. The onus is on the Ministry of Culture and Islamic Guidance, Education Ministry and the Ministry of Science, Research and Technology to determine whether these businesses qualify for state financial support.
11. Handicrafts manufacturers and distributors. The Ministry of Cultural Heritage, Handicrafts and Tourism will select businesses eligible to receive government aid.
12. Health Ministry’s licensed private-run health and treatment centers, including laboratories and those providing para-clinical services.
13. Driving schools, barber shops and beauty salons. The Ministry of Industries, Mining and Trade will determine the eligibility of these businesses.
14. The Ministry of Culture and Islamic Guidance will also determine whether any bookstore or publisher would be qualified to receive government loans.
The government has approved a 490-trillion-rial ($2.48 billion) bailout—out of a total of 750 trillion rials ($3.8 billion) for low-income households and struggling businesses—to help small- and medium-sized enterprises impacted by the coronavirus.
