OREANDA-NEWS. September 25, 2009. Uniastrum’s first Small Business Loans Center was opened at its satellite office at 6, Leninsky Prospekt, Moscow. Besides offering SME credit at competitive rates, the center also advises clients on the services and products best suited to their individual needs, reported the press-centre of Uniastrum Bank.

As part of a wider program to establish small business loans centers in all of Moscow’s administrative districts, Uniastrum plans to open another 7 centers in the Russian capital by year-end 2009. Uniastrum’s decision to open a Small Business Loans Center was prompted by a sizeable increase in applications from entrepreneurs. The Center will enable a large number of potential clients to obtain advice and apply for a loan at a convenient, nearby location, as well as access the loan funds more quickly.

Data released by RosBusinessConsulting show that, based on H109 results, Uniastrum Bank ranks among Russia’s biggest SME lenders. In the first half of 2009, Uniastrum issued Rb 10.2 bn in credits to small and mid-sized business clients, upsizing its SME loan portfolio to a total Rb 24.8 bn, inclusive of repaid earlier loans.

Uniastrum Bank’s most popular SME credit product is currently its U-Prime option, which allows borrowers to take out Rb 5 mm – Rb 50 mn for up to ten years at 17.7 APR for ruble-denominated loans and 14 APR for those in dollars or euros. In view of its substantial benefits, U-Prime is today unsurprisingly one of the most appealing SME lending programs on the Russian market.

“We see our priority task as a making a tangible difference to small business development in Russia,” says Viktor Okopny, head of Uniastrum’s SME Credit Division. “Our products feature favorable terms, flexible interest rates, and a strong customer focus. The opening of the Small Business Loans Center is another step toward improving the quality of our client services, and at the same time is further testament to Uniastrum Bank’s stability and soundness.”