OREANDA-NEWS. May 16, 2011. Uniastrum and Russian Bank for Development continue their fruitful partnership with SME assistance program in Stavropol region

The new loan marks the latest in a series of credit agreements between Uniastrum Bank and the Russian Bank of Development under a government program geared toward giving small and midsized businesses easier access to financing. SME owners in the Stavropol region looking to develop their business, purchase real estate, vehicles, or pursue rental activities can now access special-purpose loans from Uniastrum at cut-price rates no higher than 12.5% APR.

In October 2010 Uniastrum’s Stavropol branch began lending to small and midsized businesses using RBD funds. Since then, some Rb 68 mn have been disbursed to SME operating in the region. This March local company and Uniastrum client Kuban Dolina took first prize in the “Best RSB Finance Program Project” category in the regional round of the Business Success conference, hosted in Stavropol. Last year Uniastrum issued over Rb 308 mn in credits to SME in the Stavropol region. Today, the Bank’s Stavropol branch SME lending portfolio amounts to more than Rb 407 mn.

“For some years now Uniastrum Bank has been one of the country’s top SME lenders, generally thanks to our well ramified, countrywide branch network,” notes Eugene Tutkevich, Chairman of Uniastrum’s Management Board. “The Bank’s working relationship with the Russian Bank of Development has been instrumental in helping us expand this particular business segment, not least in that it enables Uniastrum to offer small and medium-size companies credit at prices they can afford. This is especially true of those regions whose social and economic life needs a boost.”