Microfinancing under SME Bank Program Becomes Available in Saratov
OREANDA-NEWS. February 10, 2012. SME Bank (Vnesheconombank Group) has signed the first loan facility agreement with the Saratov Oblast Credit Agricultural Consumer Cooperative "Garant". The resources are provided under "Level 2 Credit Cooperative" product for RUB 30 million with a three-year tenor, reported the press-centre of SME Bank.
"Garant" is going to allocate resources among its members – Level 1 credit cooperatives financing SMEs in the Saratov Oblast.
The maximal size of a loan for the end-borrowers will be RUB 1 million.
According to the Bank’s Research Centre this agreement will double microfinancing support in the region. In addition to that SME Bank will diversify its loan portfolio by increasing the share of agricultural and industrial enterprises thus contributing to social development of the region.