SKB-Bank Joins SME Lending Program
24 October 2016 (13:48)
UrBC, Yekaterinburg, October 24, 2016. Federal SME Development Corporation and SKB-Bank signed an agreement to work together on lending programs for small and medium enterprises, the bank’s press service reports.
The bank’s customers from among medium enterprises can now apply for funding at the interest rate of 9.6% a year; those from among small enterprises can apply for loans at a 10.6% annual interest rate.
Businesses can spend this funding on fixed assets, production upgrades, new projects, and daily performance needs as long as the company operates in important sectors of economy such as agriculture, manufacturing, production and distribution of electric power, natural gas, and water, construction, transportation, communication, in-country tourism, and hi tech.
Under the terms of the program, SKB-Bank’s customers can borrow from 10m RUR to 1bn RUR for a three-year period. The upper borrowing limit is set at 4bn RUR; the loan collateral must meet the bank’s specific requirements.
The bank’s customers from among medium enterprises can now apply for funding at the interest rate of 9.6% a year; those from among small enterprises can apply for loans at a 10.6% annual interest rate.
Businesses can spend this funding on fixed assets, production upgrades, new projects, and daily performance needs as long as the company operates in important sectors of economy such as agriculture, manufacturing, production and distribution of electric power, natural gas, and water, construction, transportation, communication, in-country tourism, and hi tech.
Under the terms of the program, SKB-Bank’s customers can borrow from 10m RUR to 1bn RUR for a three-year period. The upper borrowing limit is set at 4bn RUR; the loan collateral must meet the bank’s specific requirements.
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