UrBC, Yekaterinburg, September 7, 2016. The Ural Bank for Reconstruction & Development introduced new express loans for small and medium enterprises in August; the loans can be backed up with real estate as collateral, the bank’s press service reports.

Applications are considered within two work days and both the bank’s current and new customers are eligible to apply provided their business has been on the market for at least twelve months. UBRD customers with good credit history can also benefit from the special terms and conditions the bank is willing to offer them: the loan collateral may amount to 75% of the entire loan and both already owned and newly bought property can serve for the purpose.

The interest rate starts from 19.3% a year, the loan amount can vary between 500,000 RUR and 3m RUR, the loan period can stretch up to three years. Ideally, the money will be borrowed to finance a company’s working capital, to invest in production expansion or upgrades, or to buy capital assets and real estate.