OREANDA-NEWS. February 17, 2010. The Russian Bank for Development under the SME Lending Support Program has signed the second loan facility agreement with OOO “Managing Company “Micro-finance Center”. The new loan agreement with UK “Micro-finance Center” is designed to facilitate access to the resources under the RBD’s program to those SMEs that require micro-loans to support their business and that are located in the regions with low micro-finance activities, reported the press-centre of RBD.   

Pursuant to the loan agreement the bank has opened a credit line to the Center for a total amount of RUR 60 million with a possibility to increase it up to RUR 150 million with a 3-years maturity for the subsequent lending to small and medium-sized enterprises in a number of regions of the Russian Federation. The maximal loan per an SME will equal RUR 1 million, terms of loans – from 3 months to 3 years.

OOO “Managing Company “Micro-finance Center” was established in 2004 with the view to provide micro-loans for small and medium-sized business. Among the objectives is also training the entrepreneurs on the state of the art business techniques and consulting on legal and economical issues. Currently the Company can render micro-finance services throughout the country owing to a network of more than 170 outlets (micro-finance centers are situated in all federal okrugs of the Russian Federation except for the Far East FO).