OREANDA-NEWS. January 26, 2011. Uniastrum Bank’s working relationship with the Fund will play an important part in the success of a special program designed to stimulate SME growth in 2009 – 2012 by making loans more readily affordable for small and midsized businesses operating in the Moscow region. By taking advantage of a Fund guarantee, enterprises lacking sufficient liquid collateral can secure the amount they require. The Fund is able to guarantee up to 50% of any loan commitment undertaken, reported the press-centre of Uniastrum Bank.

A Uniastrum Moscow Region Fund-supported loan is available to any SME registered and operating in the Moscow Region. Under the scheme borrower enterprises must have been working for no less than 3 months, be current on taxes and other budget payments, and be able to lodge collateral equal to at least 50% of the principal.

Uniastrum Bank continues to deliver on its commitment to promote business development throughout Russia, partnering local administrations and foundations in more than 30 regions Russia-wide, and playing an active role in a state-sponsored SME financial assistance program operated by the Russian Bank for Development – enabling budget-conscious business owners to obtain credit on easy terms. At year-end 2010, Uniastrum more than doubled the maximum loan available to small and midsized enterprises to Rb 50 mn.

“Small and medium-sized business is an important part of the Moscow Region’s economy and is playing an increasingly large role in the life of the local community,” notes Svetlana Chubakova, Uniastrum’s Vice-President for Small Business Development. “Uniastrum Bank’s well ramified network of branch offices, its partnership with the Fund, and the competitive credit terms offered are all but guaranteed to boost SME growth in the near-Moscow area.”