OREANDA-NEWS. August 31, 2007. In connection with the program "Comfortable overdraught" VAB Bank has decided to give more than 700 clients of the SME segment (small and middle business) credit facilities within the limits of the overdraught on individual terms, reported the press-centre of VAB Group.

In connection with the program "Comfortable overdraught" VAB Bank has decided to give more than 700 clients of the SME segment (small and middle business) credit facilities within the limits of the overdraught on individual terms. In such a manner a credit amount of up to 25% of the monthly receipts on the clients account is granted as an overdraught, while most banks only accept a maximum of 10% of the receipts for an overdraught credit.

According to the head of the department of development bank products for small business of VAB, Eugen Oparin, this instrument of short-term financing, is already very popular among the Ukrainian enterprises. Most clients use this “credit today” solution to improve their working assets: to purchase materials for their production, do stock-in-trades, salary pay and other spendings for their productions.

"The program "Comfortable overdraught" is foremost given to loyal clients. We tried, both to foresee their wishes and encourage a fruitful collaboration. On the basis of these criterias, as a term of service for not less than 6 months, we accord this program to clients of more than a year and do not have a history of negative credit, about 10% of are clients were selected and a decision was made to grant them their limit of overdraught from 5 000 to 100 000 UAH for a 12 months period. We also take into account the positive business reputation of our clients; an analysis of their financial state is not conducted. A general limit on all clients would be 17 million UAH." Eugen Oparin explains.

The terms of the program foresees an interest rate of 21% per annum in Hryvnyas and if a client applies for the overdraught credit in the first 1 month of the presentation, he gets a credit under 20% per annuml. To obtain the credit, a client only has to apply to any branch of VAB Bank and sign a credit agreement.