OREANDA-NEWS. December 23, 2010. The Russian Bank for Development has signed the first agreement with Credit Agriculture Consumer Cooperative Garant-Credit (Saratov) within the framework of the credit product “Micro Loan Tier 1”. The Bank has opened a credit line worth RUR 9.5 million with a 3-year maturity to provide loans to the members of the cooperative – SMEs in the Saratov Oblast, reported the press-centre of RBD.

Maximal loan for an SME will amount to RUR 1 million, maturity – from 6 months to 3 years.

Garant-Credit has been operating since 2003. The cooperative is a non-profit organization and it was established for mutual lending and saving funds of its members.

Garant-Credit incorporates local agriculture producers (farm enterprises, individual entrepreneurs, heads of farms, and personal subsidiary plots), farm products processors and entrepreneurs involved in various lines of business (production, processing and services).