Bank Koltso Urala offers EXIAR-secured loans

March 31, 2014. The Export Insurance Agency of Russia (EXIAR) and Bank Koltso Urala signed an agreement on a joint project relating to issuing loans to export-oriented SMEs, the bank reports.

‘The main idea behind the program is to offer collateral on loans issued to exporting business in the form of EXIAR insurance. This means Bank Koltso Urala offers an additional form of security to SMEs,’ the bank’s Financial Control & Currency Transactions Department explains.

Experts say that SMEs often export consumer goods, agricultural produce, optical goods, medical produce, and cosmetics. The special financing option is already gaining popularity with businesspeople and promotes the development of their exporting activity.

‘Bank Koltso Urala is the first bank in Sverdlovsk Region to offer this scheme,’ EXIAR reports.

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