How much money can business establishments borrow for each employee who has completed their prison sentence for production and business?
How much money can a business production facility borrow for each worker who has completed a prison sentence to produce and operate?
According to Article 6 of Decision 22/2023/QD-TTg, the loan amount is stipulated as follows:
Loan Amount
1. For loans for vocational training:
The maximum loan amount is VND 4 million per month per person who has completed a prison sentence.
2. For loans for production, business, and job creation:
a) For persons who have completed a prison sentence: The maximum loan amount is VND 100 million per person who has completed a prison sentence;
b) For business production facilities: The maximum loan amount is VND 2 billion per project and not more than VND 100 million per worker at the facility.
Thus, for business production facilities employing laborers who have completed their prison sentences, the maximum loan amount is VND 2 billion per project and not more than VND 100 million per worker at the facility.
Therefore, for each worker who has completed their prison sentence, the business production facility can only borrow up to VND 100 million, but the maximum loan amount is VND 2 billion per project.
Additionally, according to Clause 2 of Article 8 of Decision 22/2023/QD-TTg, the loan term for production, business, and job creation is stipulated as follows:
Loan Term
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2. For loans for production, business, and job creation:
The maximum loan term is 120 months. The specific loan term is determined by the Social Policy Bank based on the capital source, the business production cycle, and the repayment capability of the borrower to negotiate with the borrower.
The loan term for business production facilities employing laborers who have completed their sentences can be up to 120 months.
The specific loan term is determined by the Social Policy Bank based on the capital source, the business production cycle, and the repayment capability of the borrower to negotiate with the borrower.
How much money can a Business Production Facility borrow for each Worker who has Completed a Prison Sentence to produce and operate?
What conditions must be met for a business production facility to borrow according to the credit policy for persons who have completed their prison sentences?
Pursuant to Article 3 of Decision 22/2023/QD-TTg, the conditions are stipulated as follows:
Subjects and Loan Conditions
The loan subjects and conditions include:
1. Loan Subjects:
a) Persons who have completed their prison sentences include those who have completed the sentences and have been issued a certificate of sentence completion as stipulated by the Law on Criminal Execution, and those who have been pardoned and issued a pardon certificate as stipulated by the Law on Amnesty;
b) Business production facilities include small and medium enterprises, cooperatives, cooperative groups, and household businesses employing persons who have completed their prison sentences.
2. Loan Conditions:
a) Persons who have completed their prison sentences: Have a need for a loan; are listed in the list of persons who have completed their sentences and reside in the locality, comply with the law, do not participate in social evils, as listed and certified by the Commune Police according to Form No. 01 attached to this Decision. The period from completing the prison sentence to the time of borrowing should not exceed 5 years;
b) Business production facilities: Are established and operate legally as per law regulations; employ at least 10% of the total workforce as persons who have completed their sentences and meet the conditions stated at Point a of this Clause and have a labor contract in accordance with labor law; have a loan plan and are certified by the Commune People's Committee where the plan is implemented according to Form No. 02 attached to this Decision.
3. Persons who have completed their prison sentences and business production facilities mentioned in Clauses 1 and 2 of this Article should not have outstanding loans at the Social Policy Bank related to other credit programs with the same purpose of using loan capital for vocational training and business production, job creation as per law regulations.
Therefore, a business production facility must meet the following conditions:
- Be legally established and operate in compliance with the law;- Employ at least 10% of the workforce as persons who have completed their prison sentences and meet the conditions listed in Point a of this Clause and have labor contracts in accordance with labor law;- Have a loan plan and be certified by the Commune People's Committee where the plan is implemented.
Additionally, the facility must not have any outstanding loans at the Social Policy Bank under other credit programs with the same purposes of using loan capital for vocational training and business production, job creation as per law regulations.
What is the purpose of using loan capital from the credit policy for persons who have completed their prison sentences?
Pursuant to Article 5 of Decision 22/2023/QD-TTg, the purposes of using loan capital from the credit policy for persons who have completed their prison sentences are as follows:
- For loans for vocational training
The costs for education and living expenses of people who have completed their sentences during their studies at universities (or equivalent to universities), colleges, professional intermediates, and vocational education facilities established and operating in compliance with Vietnamese law. These costs include: Tuition fees; costs for purchasing books and learning materials; costs for accommodation, transport.
- For loans for production, business, and job creation
Costs for carrying out production, business, and job creation activities.
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