OREANDA-NEWS. January 29, 2010. The Russian Bank for Development that is implementing the SME Lending Support Program has signed a loan facility agreement with state unitary enterprise of the Samara Oblast Guarantee Fund of Entrepreneurs’ Support, reported the press-centre of RBD.

Pursuant to the loan agreement RBD will open to the Fund a credit line worth RUR 150 million with a 3-year maturity with subsequent providing special-purpose loans to small and medium-sized enterprises in the Samara Oblast. The maximal loan for a SME will amount to RUR 1 million with a term from 6 months to 3 years. The Fund’s liabilities to RBD are secured by pledge of receivables and an agreement on assignment of rights of pledge under loan agreements with SMEs. This agreement was signed within the framework of implementation of one of the credit products designed for microfinance organizations’ lending – a product “1st-tier micro loan”.

The state unitary enterprise of the Samara Oblast Guarantee Fund of Entrepreneurs’ Support was established in October 2008 in accordance with the Decree of the Government of the Samara Oblast. Currently the Fund is a rapidly developing organization designed to facilitate access of small and medium enterprises to credit resources, development of the producing sector of the economy and innovations in the Samara Oblast.