OREANDA-NEWS. Sberbank and SME Bank have increased the volume of financing to provide affordable loans to small and medium-sized enterprises. Earlier the SME Reset product developed by SME Bank as part of its interaction with partner banks offered a 3.5 billion rouble limit for Sberbank. This sum has been increased by 1 billion roubles to 4.5 billion.

Chairman of the Board of SME Bank Dmitry Golovanov said: “We see that financing at an affordable rate enjoys considerable demand from entrepreneurs who work in priority economic areas, and for this reason we are expanding cooperation with Sberbank. Financing provided at the rate of 9.6-10.6% per annum gives businesses new development opportunities.”

“The joint programme with SME Bank proved to be an effective tool to support small and medium-sized enterprise clients. It creates more affordable lending opportunities and generates more possibilities for SMEs,” said Sberbank’s Vice President Andrei Sharov.

Under the agreement, small businesses will be able to take out loans at a maximum rate of 10.6%, medium-sized entrepreneurs – at a maximum rate of 9.6% per annum.