OREANDA-NEWS. February 10, 2014. The Bank of Moscow summed up the results of cooperation with Moscow Small Business Credit Assistance Fund in 2013.

Thus, as of year-end the Bank of Moscow is an undisputed leader among 45 partner banks of the Fund by the quantity of credit agreements that have partial surety provided by the Fund: the Bank of Moscow share is 21% (233 agreements). The Bank of Moscow is the second among the Fund’s partner banks by the amount of surety provided under singed agreements, equalling 1 bln. rubles (a share of 15%). In total as of year-end 2013 the Bank of Moscow extended financing for 2.2 bln rubles under surety of Small Business Credit Assistance Fund.

The cooperation between the Bank of Moscow and Moscow Small Business Credit Assistance Fund started in 2006. The Bank of Moscow was the first bank to start extending credits under the surety of the Fund. At present the Bank offers support to more than 30 thousand small business enterprises in Moscow.

"The cooperation with Moscow Small Business Credit Assistance Fund is very important to the Bank of Moscow. Small enterprises often experience difficulties with providing the required collateral to obtain credit funds, and it is the state support offered via a surety fund in the form of surety that enabled small business to obtain credit funds necessary for their development", commented Ekaterina Orlova, the Director of Bank of Moscow Small business department.