OREANDA-NEWS. August 28, 2007. OJSC Credit-Moscow Bank opened an operations office in Vladimir. The bank is to issue loans in this region to legal entities and individual entrepreneurs for the replenishment of turnover assets and business development, reported the press-centre of OJSC Credit-Moscow Bank.

As part of the Programme for Small and Medium-size Business Loans, entrepreneurs will be offered pledge-free loans of up to RUR 600,000 or loans of up to RUR 5,000,000 secured by pledging any liquid asset, including personal property and the property of third parties. In case of insufficient collateral, small business enterprises will have access to loans guaranteed by the Support Fund for Small Business. OJSC Credit-Moscow Bank will offer favourable conditions to freight forwarding companies, with loans between RUR 300,000 and 1,500,000 issued against the pledge of vehicles.

OJSC Credit-Moscow Bank’s credit programme for businesses in the Vladimir Region is attractive thanks to its simplified loan consideration procedure and favorable credit terms. Decisions on loan applications will be issued within 3 business days based on a minimum set of required documents.

Irina Nikolaevna Sharova is to become head of the new office. 

According to expert estimates the Vladimir Region has high potential for small and medium-size businesses to develop. Within the last year the number of small businesses operating in the region has risen by 25%. The Administrative Authorities of the Vladimir Region play an active role in supporting the development of the small business sector. Among other activities, the local Support Fund for Small Business runs a programme to finance interest rates and provides qualified legal assistance, as well as promoting and working with the experience of leading enterprises.