SME Bank, Microfinance Ltd Signed New Loan Facility Agreement
OREANDA-NEWS. February 10, 2012. SME Bank (Vnesheconombank Group) has signed a new loan facility agreement with Microfinance Ltd. (Moscow). Microfinance extends microloans up to 1 million rubles to SMEs including individual entrepreneurs in Moscow, Tula, Vladimir, Nizhny Novgorod and Ryazan, reported the press-centre of SME Bank.
The agreement was signed under “Level I Plus Microloan” credit product. SME Bank has opened a credit line of 100 million rubles with a 2.5-year tenor against a suretyship of the Moscow City Foundation for SME Lending Support.
The resources are destined for financing of purchase, repair and modernization of production facilities, expansion of operating capacities and business development.