OREANDA-NEWS. March 25, 2011. The Russian Bank for Development under the State SME Lending Support Program has developed a new credit product for infrastructure organizations – “1 Level Credit Cooperative”, reported the press-centre of RBD. 

Within the framework of this product the loans for SMEs are allocated between 2 level credit cooperatives whose members are exclusively 1 level credit cooperatives that provide lending to SMEs.

According to the lending terms the interest rate for 2 level credit cooperatives will amount to 9.25%. Bank guarantees, warranties of guarantee funds and legal bodies as well as pledge of real property will serve as collateral (for more information visit www.rosbr.ru). A minimal loan for a partner of RBD is RUR 15 million.

A maximal size of a micro-loan for the end-borrowers – small and medium-sized enterprises will amount to RUR 1 million. The contemplated objectives of lending – acquisition of material assets, expanding of business either purchase or repair of fixed assets.

“One of the important features of this credit product ensuring accessibility of funds for SMEs is a size of interest rate on loans for 1 level credit cooperative. It can’t exceed more than twice an interest rate on the RBD loan provided for 2 level credit cooperative”,  commented Member of the Board – Deputy Chairman of the Board Olesia Teploukhova.