OREANDA-NEWS. August 12, 2009. Uniastrum Bank is offering a new loan product called U-SUPER PRIME, which has been designed especially for cash-strapped corporate clients needing to fund day-to-day operations and renegotiate existing loans and other commitments, reported the press-centre of Uniastrum Bank.

At a time when many Russian lenders prefer to keep lending rates high, UNIASTRUM continues to forge ahead with its recession-fighting strategy. U-SUPER PRIME, which offers borrowers upwards of Rb 100 mn or USD 3 mn (or Euro equivalent), is the Banks latest credit scheme and offers rock-bottom payment rates unparalleled on Russia’s lending market. Specifically, the interest rate for ruble-denominated loans is 13.7%, and 10.7% for those issued in foreign currency, with a one-time disbursement fee equal to 2.7% of the loan amount. This highly attractive offer runs from July 22 to September 1, 2009.

A U-SUPER PRIME loan may be used for any purpose, e.g. for replenishing current assets (for a period of up to 5 years with repayments at least once every 12 months), or for investment purposes (up to 10 years and subject to an agreed repayment schedule).

Borrower eligibility criteria are standard: two-year work experience and no negative credit history (long-term or repeated delinquency, judgment recovery, etc.), with real estate lodged as collateral. Not only companies, but also unincorporated businesses are eligible to apply for the loan. Even so, U-SUPER PRIME is primarily geared toward supporting community-focused businesses, particularly local economic mainstays and major employers, as well as enterprises with a strong social commitment.

There are three types of U-SUPER PRIME loan available:

a single loan amount credited to the borrower’s account;

a revolving credit line (with a limit on the difference between drawdown amounts and loan payments);

a non-revolving credit line (with a limit on the total amount of funds advanced to the borrower).
Interest is payable monthly, with principal repayment terms individually tailored to the client’s business.

“Today businesses can find borrowing very much an uphill task. Uniastrum Bank fully understands the need to support the real sector of the economy in our cities, the regions and throughout the country as a whole. Together with the Bank of Cyprus, we are committed to doing all we can to help Russian businesses by making available U-SUPER PRIME, as well as numerous other products and services”, says Natalia Gryaznova, Director of Uniastrum Bank’s Corporate Lending Bloc.