UBRD Reduces Interest Rate for SMEs

30 May 2016 (14:02)

UrBC, Yekaterinburg, May 30, 2016. The Ural Bank for Reconstruction & Development now offers milder lending terms for small and medium enterprises: according to the bank’s press service, the interest rates on Partner Overdraft and Security-Backed Overdraft went down by 1% and 1.9%, respectively.

What is more, the loan period can now be extended to up to 730 days (2 years), which is twice as long as the original offer was. The unsecured Partner Overdraft is now available at 17% a year and Security-Backed Overdraft at 14.8%.

Additionally, the bank came up with new terms on its Business Privilege Loan: the loan officers only used to accept real estate or automobiles as reliable loan collateral, but now goods for purchase as well as any other valuable property can be used to secure a loan.

The UBRD is already noticing an increase in the number of overdraft options applications and loans for SMEs, and the demand for these is expected to go up even more by the end of the year.

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