OREANDA-NEWS. April 09, 2012. The Bank is now one of a number of credit institutions collaborating with the Fund on its small business loan guarantee program. Under the agreement, the Fund undertakes to guarantee Uniastrum-issued loans up to a total Rb 36 mn.

Thanks to the agreement between Uniastrum Bank and the Khabarovsk Region Guarantee Fund, local business owners will find it easier to secure financing on reasonable terms. By taking advantage of a Fund guarantee, borrower enterprises lacking sufficient liquid collateral can now use Uniastrum as a source of credit.

The Fund is ready to guarantee up to 50% of any loan commitment undertaken. A Uniastrum Fund-supported loan is available to any small or medium-size business registered and working in the Khabarovsk region. Under the scheme, borrower enterprises must have been operating for no less than one year, be current on taxes and other government payments, and be able to lodge collateral equal to at least 50% of the principal.

One of the country’s leaders on the small business financing market, Uniastrum remains committed to supporting Khabarovsk region’s entrepreneur community. In 2011, the Bank’s Khabarovsk branch expanded its SB credit portfolio 129%, meantime boosting its overall lending portfolio 54%. Results for last year show the branch disbursing over Rb 156.5 mn in small business loans, with local entrepreneurs demonstrating a marked preference for long-term credit issued under Uniastrum’s Smart Loan multi-program credit package.

“Most business owners in the region cite insufficient capital as the main obstacle preventing them from developing their operations,” notes Svetlana Chubakova, Uniastrum’s Vice President for Small Business Development. “One of our priority activities is ensuring that credit is more accessible to small enterprises. One particularly effective way of meeting this challenge is teaming up with regional small business assistance funds.”