Uniastrum Bank's St. Petersburg Branch Grants Rb 400 mn Credit Line to West Bridge Hotel LLC

Moscow, Russia, April 15, 2011 --(PR.com)-- Uniastrum Bank has entered into a credit agreement with West Bridge Hotel LLC worth a total Rb 400 mn. To be disbursed over a 5-year period, the loan proceeds will be used to enhance day-to-day cash flows, as well as for investment purposes. The Novotel St. Petersburg Centre Hotel is managed by the West Bridge Hotel company and owned by the world’s leading hotel operator Accor Group, whose network unites more than 4,000 hotels in 140 countries.

At the signing, Uniastrum announced its special loan terms for companies partnering in the Novotel St. Petersburg Centre hotel complex. Under the Bank’s Sensible Credit for Small Business program, for the next 6 months partners taking out a loan can look forward to paying interest 1% below the normal rate. Meantime, small and medium businesses working with the hotel will be offered other Uniastrum credit options, paying rates of maximum 12.5% for ruble-denominated loans, or 10% on those in dollars or Euros, depending on the loan duration and amount.

Sensible Credit for Small Business is an exclusive package of credit programs enabling small enterprises and sole proprietors to secure anywhere from Rb 5 mn to Rb 50 mn on easy terms. Bank staff will be happy to help borrowers select the most suitable option, ensuring that it fits the requirements of each individual business, as well as the loan purpose. Also, Uniastrum is offering disciplined borrowers lower rates of interest. As of the start of the second year, each quarter the Bank will automatically reduce the rate by 0.5%, which means that credited customers with punctual repayment records can expect to pay 3.5% less on the original rate. Meantime, another program allows borrowers to enjoy a reduced rate during the first year. This particular scheme has been purposely designed for investment projects, which invariably require that funding is available in the first few years. In order to apply online and to book a meeting with one of Uniastrum’s loan advisers, visit the site.

“Developing our SME finance operations requires us to harness the very latest IT solutions and to adopt an individualized approach to borrowers as a way of ensuring that we meet key business objectives,” notes Eugene Tutkevich, Chairman of Uniastrum’s Management Board. “This year we’re working to more than double our small business lending portfolio to Rb 17 bn.”

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