OREANDA-NEWS. Sberbank has changed the conditions for providing bank guarantees worth up to RUB 500,000 under state contacts for small enterprises that have an annual turnover of at least RUB 2 mln. Now small enterprises can receive guarantees for contracts worth up to RUB 5 mln (such contracts make up more than 60% of the state contract market) in a single day after submitting the minimal number of documents.

“Thanks to these new conditions, small business will be able to become more efficient and actively participate in the execution of state contracts,” commented Andrey Sharov, Vice President of Sberbank.

Guarantees are provided for up to 24 months without collateral or surety. To apply for a guarantee, clients should pay a visit to the Sberbank office where they receive cash and settlement services.