Metcombank, MSP Bank Sign Agreement

«UrBC, Yekaterinburg, April 19, 2016. Metcombank and MSP Bank signed a framework agreement to provide SMEs’ investment projects with the bank guarantees they need, the bank’s press service reports.

‘The main idea behind this guaranty mechanism is to make financial resources more affordable for small and medium enterprises. The agreement means a business can get a ten-year guarantee on very good terms,’ says Metcombank Chair of the Board Dmitri Torbenko.

The guarantees in question are connected to banks which issue loans meant to finance small and medium enterprises’ investment projects, with 70% of the funds to be directed to capital investments.

A guarantee can back up to 50% of the loan’s principal amount within 1bn RUR limit.

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