OREANDA-NEWS. October 24, 2011. The Bank of Moscow and the Small Business Credit Assistance Fund have summed up the results of 5 years of cooperation. The Bank of Moscow became the first Russian bank, which granted the first credit to the small enterprise under surety in 2006, and in March 2007 the Bank sent a debut regional loan application to the Fund for an agreement.

Currently the Bank of Moscow is a leader by the number of credit agreements, the partial security whereunder is provided by the Fund. The Bank of Moscow granted about 900 credits for RUR 3.6 bln to the small and medium businesses over the whole period of cooperation (the Fund’s suretyship amount has exceeded RUR 1.7 bln).

Currently the credit portfolio of the Bank contains over 200 credit agreements for over RUR 880 mln, the amount of the Fund’s suretyship whereunder exceeds RUR 400 mln.

The Department of Science, Industrial Policy and Entrepreneurship of Moscow has implemented the program of the expense portion compensation to the small and medium businesses to reduce the clients’ costs for the Fund’s suretyship registration within the framework of the capital’s small and medium business support program. The compensation accounts for maximum 90% of the expenses incurred.

The Bank of Moscow takes an active part in the development of the small and medium business lending market. Thus, the Bank of Moscow made over 275 credit agreements for the amount exceeding RUR 2.3 bln within the period between 1 and 20 October 2011.