VUZ-Bank Offers Better Loan Terms to Business Customers
2 August 2012 (17:11)
VUZ-Bank is now offering its business customers unique loan terms. Now it only takes one day an a very concise set of documents to get the decision on a loan when a company with good accounting records is involved, the bank’s press service reports.
The bank gave up on its credit committee system that used to make the decision-making process so long. When it comes to customers with good financial records, it is the Business Customers Director Rustam Dautov himself who makes the decision on granting up to 10m RUR in the format of a working capital financing loan, an overdraft, or a guarantee within one day of getting the application package from the borrower.
VUZ-Bank now offers special package solutions for these kinds of loans and guarantees: Loan Package, Overdraft Package, Guarantee Package, and Foreign Economic Activity Participants Package provide for the preferential terms settlement and cash services and other benefits and bonuses in addition to the main product.
For example, Overdraft Package means the company can get an advance overdraft. The overdraft limit is made available right after a bank account gets opened: for a whole month, customers can use the overdraft and only have to start meeting the standard requirements in the second month.
‘An overdraft limit is normally tied strictly to the average monthly cash cycle, which makes this product hardly affordable for new customers and companies with irregular cash flows. Now a company can get a loan into its settlement account on the first day it starts using our bank, without having to put any cash into the bank account in advance and without having to provide any security,’ says VUZ-Bank’s Deputy Lending Director Lyudmila Desyatnik.
The Loan Package gives a company a chance to get a working capital financing loan amounting to 1,000,000 RUR-10,000,000 RUR. The decision whether to give a loan is made within one day. The Foreign Economic Activity Participants Package includes, among other things, a guarantee of getting one’s VAT back under a simplified procedure and personal currency control.
All the packages also offer e-banking (including e-application) and free report-drawing through Life Report.
The bank gave up on its credit committee system that used to make the decision-making process so long. When it comes to customers with good financial records, it is the Business Customers Director Rustam Dautov himself who makes the decision on granting up to 10m RUR in the format of a working capital financing loan, an overdraft, or a guarantee within one day of getting the application package from the borrower.
VUZ-Bank now offers special package solutions for these kinds of loans and guarantees: Loan Package, Overdraft Package, Guarantee Package, and Foreign Economic Activity Participants Package provide for the preferential terms settlement and cash services and other benefits and bonuses in addition to the main product.
For example, Overdraft Package means the company can get an advance overdraft. The overdraft limit is made available right after a bank account gets opened: for a whole month, customers can use the overdraft and only have to start meeting the standard requirements in the second month.
‘An overdraft limit is normally tied strictly to the average monthly cash cycle, which makes this product hardly affordable for new customers and companies with irregular cash flows. Now a company can get a loan into its settlement account on the first day it starts using our bank, without having to put any cash into the bank account in advance and without having to provide any security,’ says VUZ-Bank’s Deputy Lending Director Lyudmila Desyatnik.
The Loan Package gives a company a chance to get a working capital financing loan amounting to 1,000,000 RUR-10,000,000 RUR. The decision whether to give a loan is made within one day. The Foreign Economic Activity Participants Package includes, among other things, a guarantee of getting one’s VAT back under a simplified procedure and personal currency control.
All the packages also offer e-banking (including e-application) and free report-drawing through Life Report.
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