UBRD Comes up with Short-Term Express Loan for Businesses

14 September 2016 (14:02)

UrBC, Yekaterinburg, September 14, 2016. The Ural Bank for Reconstruction & Development (UBRD) is now offering its business customers a new short-term loan, the bank’s press service reports.

Borrowers who are new to the bank and have no credit history will be offered a special unsecured loan on the first day their settlement account gets opened.

According to UBRD Corporates Development Director Elena Sorvina, the bank’s new offer consists in short-term express loan services (loan period ranges between thirty and ninety days) related to a company’s settlement account. The account owner can borrow funds directly from the bank, with the debt then paid out with the money transferred into the account later on. The interest rate comes to 21% a year, which is, in fact, a very good deal for first-time customers.

‘The loan applications are considered within the course of a few days, so this option is particularly handy for short-term cash flow problems. The loan amount can vary between 100,000 RUR and 300,000 RUR, depending on the customer’s overall revenues rather than the amount of money in and out. This means that customers with accounts at other banks or customers who get a portion of their revenues in other accounts will find this offer particularly appealing,’ Sorvina says.

To apply for this offer, a borrower only needs to provide the business owners’ surety commitment. Very few basic papers need to be submitted, which makes borrowing a very easy thing to do. The offer is targeted at applicants whose business has been around for at least a year.

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