Under the current Federal Act 44 FZ, an organization that is taking part in state-run and local government-run tenders must place a deposit within the e-trading floor amounting to 5% of the contract amount, SKB-Bank’s press service says.

‘On the face of it, 5% does not look like a very significant sum, yet this could be quite a burden for a business, especially if the company is applying for several tenders simultaneously. The funds directed to securing the application will be unavailable for about two months – this is how ling it takes to move from submitting an application to signing a contract,’ the press service explains.

SKB-Bank is offering its customers a perfect solution: a tender loan. This is a short-term, unsecured loan that is issued to help the borrower guarantee their application for a state- and local government-run tender through an e-trading floor of ZAO Sberbank-AST. The loan gives the borrower the right to apply for a contract with the state or with the local government. For more information on the tender loan, please visit SKB-Bank’s website.