OREANDA-NEWS. April 13, 2011. Sviaz-Bank has developed a new loan program for the benefit of legal entities and individual entrepreneurs, including small businesses, to assist them in filling government orders, reported the press-centre of Sviaz-Bank.

The funds borrowed under the new Government Order Support program may be put on deposit to back up, for example, in the form of bank surety, a bid in an auction or competition for a government order contract and to fulfill the contract.

A loan is issued in Russian rubles for a term of up to six months to back up a competition or auction bid and for not more than five years (not more then three years for small businesses) to meet their obligations under a government contract. Interest on loans is fixed on an individual basis.

“We never cease adjusting our loan products to current market trends and needs of our potential borrowers, including small businesses, and improving our line of loan products with consideration for the specifics of the regional corporate lending market,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board. “We offer what we call a tender loan and are ready to finance businesses filling government and municipal orders.”