Ural Bank for Reconstruction and Development’s SME lending program celebrates 3d anniversary

7 July 2008 (07:22)

Three years ago, the Ural Bank for Reconstruction and Development developed and launched a special program of lending to small and medium enterprises, designed to fit the peculiarities of startup and growing companies and adjusted to various business sectors. Over these three years, the program evolved into a wide range of profitable product solutions with a flexible startups financing mechanism, available in every region where the bank operates. So far, 7,000 applications and loan contracts worth a total of 2.2 billion RUR have been made, which means the bank’s lending schemes enjoy good demand. The program’s future development will probably be connected with improving on the loan terms and conditions (such as offering greater sums for longer periods, making the borrower requirements less strict, and developing more financial instruments), the bank’s press officer reports.

‘Small and medium-scale businesses can already use any out of eight loan types we offer as well as take advantage of our leasing and factoring services. Working with SMEs is the Ural Bank for Reconstruction and Development’s top priority where most of our strategic efforts are concentrated. This is why we see the development of our partnership with small and medium-scale businesses as trying to offer them a full range of growth-stimulating opportunities,’ says one of the bank’s directors Elena Sorvina.

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