OREANDA-NEWS. October 26, 2009. On October this year AB Bank SNORAS will provide preferential UAB „Guarantee Fund of Agricultural Loans “ purpose loans to farmers and companies, which scope of activity is economic activity and processing of agricultural production, reported the press-centre of Siauliu Bankas.

Bank SNORAS will offer especially low interest to the loan recipients. Currently the interest rate applied by Bank SNORAS for these purpose loans comprises 3.25 per cent, whereas the interest rate within the whole period of the loan granting will not comprise more than 5.25 per cent.

„Cooperation with farmers it is not the innovation for us, because we own the widest territorial network of clients’ service in the country. It is very convenient for the companies, developing its activity far from the regional centres. The interest rates of the credits to farmers and agricultural companies offered by Bank SNORAS comparing with the current market situation is very attractive“, states Zorzas Sarafanovicius, deputy chairman of the Board, director of Retail Business division.

Under the “Modernisation of agriculture holding – a support with the loans” Programme the farmers, companies and cooperatives, which are engaged in agricultural activity and which will manage to invest the funds into the purchase of agricultural equipment and technology, to acquire agricultural transport or crop, will have the opportunity to receive the loans.

The loans under the “Processing of agricultural products and increase of value added – a support with the loans” Programme are intended for the companies, processing the agricultural products. These are the companies, processing milk, meat, grain, etc.

The loans are granted for the period up to 7 years. For the cooperation companies of dairy products industry the loans may be granted for the extended period – up to 10 years.

It is applied up to 50 per cent reduced tariffs for all the companies residing in Lithuania including  farmers, as well as agricultural companies, which become the new corporate clients of Bank SNORAS till 31 December 2009, for the accounts administration, local and international payments as well as currency conversion. The reduced tariffs for the services provided to the corporate clients in Bank SNORAS will apply for the period of 6 months since opening the account in Bank SNORAS.