OREANDA-NEWS. July 14, 2008. "Megabank" started its work on the SME Microlending Programme in October 2007. Departments for lending were opened in 4 branches (Simferopol, Dnipropetrovsk, Lviv, Kharkiv), reported the press-centre of Megabank.

In April 2008 the bank opened more 3 points of sale – Kharkiv (second sectoe), Vinnytsya, Zhytomyr.

Presently the bank implemented products "Express-credit" (up to USD 10 000, without pledge), "Microcredit" (up to USD 300 000, for 5 years), credits for "Business-Auto" and "Business – Real estate". Making decision on granting such credits is made on the base of the business estimation of the borrower.

The SME microcrediting portfolio amount as on 01.06.2008 constituted UAH 11 million. As the Head of Department of Microcrediting Oleg Gaber informed:

"As on 01.06.2008 the microlending portfolio of the bank has more than 70% of credits granted against the pledge. The majority of credits (69%) was received by borrowers, who are engaged in trade activities. As for the lending targets, there is an approximate parity – 50% of the credit portfolio is for replenishment of working assets, 40% – for buying new assets.

Up to the end of the year we plan to open departments for microlending more in 3-4 cities of Ukraine and besides as the part of regional development of microlending we plan to open one more sale point on the base of the Kharkiv regional branch".