Russian Bank for Development Grants - Uniastrum Special-Purpose Loan of Rb 1.3 Bn to Support Small and Midsized Business

New York, NY, January 27, 2011 --(PR.com)-- The loan comes as part of a government-sponsored program to render financial assistance to small and medium-sized enterprises, which, providing they meet RBD eligibility requirements, can obtain cut-price credit under Uniastrum Bank’s U-Prime scheme in order to develop their businesses or purchase real estate or vehicles. Details of the program can be found on the Russian Bank for Development’s website.

Uniastrum is one of Russia’s leading SME financers and remains committed to expanding its operations in this area, going forward. Thanks to its wealth of expertise in working with the smaller business community, Uniastrum is aware of and responsive to SME customer needs. At year-end 2010, for example, the Bank more than doubled the maximum loan principal available to small and midsized businesses to Rb 50 mn. Conspicuous benefits of Uniastrum’s credit programs include generous payback periods and, for businesses lacking sufficient collateral, the chance to acquire loan guarantees from the Small Enterprise Credit Assistance Fund.

“In 2010 the decision to focus heavily on rolling out our SME operation proved a big success,” notes Eugene Tutkevich, Chairman of Uniastrum’s Management Committee. “We are glad to be continuing our working relationship with the Russian Bank for Development in helping small and midsized business make a go of things. Moving forward, business owners, the government, and banks need to pull together if this economic sector is to prosper.”

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