OREANDA-NEWS. On November 06, 2007 Credit Moscow Bank opened a front office in Belgorod as part of activities aimed at developing the Bank’s regional loan programme for small and medium business, reported the press-centre of Credit Moscow Bank.

Issuing business loans for legal entities and individual entrepreneurs to increase their working capital and develop their business will become the main area of operation for the front office in Belgorod. 

Under the small and medium business loan programme, entrepreneurs will be able to obtain unsecured loans of up to 600,000 roubles, as well as loans of up to 5,000,000 roubles secured by any liquid assets, including personal assets and assets of third parties. Credit Moscow Bank (OJSC) offers profitable terms for loans of 300,000 roubles to 1,500,000 roubles issued to hauliers and secured with motor vehicles.

The advantages of Credit Moscow Bank’s (OJSC) loan programme for Belgorod entrepreneurs include a simplified procedure for considering loan applications and profitable loan terms. Decision-making takes three business days and is based on a minimum package of documents.

Elena Tunkachi is appointed Director of the front office in Belgorod.

The decision to open the front office in Belgorod for issuing loans to small and medium enterprises was based on high rates of economic potential growth and small business development in the Belgorod Region. Besides, an important argument confirming that the chosen regional development strategy is correct is the Belgorod Government’s active participation in enterprise development and support, as well as improvement of the small business investment climate realised through the Targeted Enterprise Support and Development Programme which was designed and is being implemented by the city government.