OREANDA-NEWS. January 15, 2007. From the beginning of the year of 2008, the Bank of Moscow provides the small-scale business enterprises with a special program of overdraft crediting titled "Express-overdraft for Small-Scale Enterprises".

Small-scale enterprises including the private entrepreneurs are offered to use express crediting in the form of overdraft subject to special conditions and valuation parameters targeted to the given client segment. Should the Bank take a positive decision on such a transaction, the limit will be set for a small-scale enterprise within the bound of which the Bank guarantee for the client the ability to settle payments in due time, if there is a case when the client has no sufficient funds in its settlement accounts.

Amount of the loan is from RUR 50,000 to RUR 3,000,000, The maximum loan term is 12 months. The maximum term of continuous indebtedness is 30 days, the annual rate is 11 per cent in rubles or more. The decision on granting of the Express-overdraft can be taken by the Bank within 1 to 5 days. No pledge is anticipated.

Maksim Shindyapkin, Managing Director of the Department of the Medium and Small Business of the Bank of Moscow, said: "Advantages of this credit product are: rapidness of decision-making, absence of obligatory pledge, and also the possibility of granting the small-scale enterprise with the loan in the form of express overdraft as early as the first month of its Bank servicing."

The Bank of Moscow intensively develops crediting programs for medium and small-scale enterprises with intending to occupy the leading position in this segment in the future. In the year of 2007 the scope of loans granted by the Bank to the medium and small business enterprises has increased as compared to the year of 2006 by 170 per cent, exceeding 45,000,000,000 rubles.

Such figures were reached due to implementing standard procedures of borrower solvency evaluation, expanding the range of products and developing crediting programs for the small and medium business.