OREANDA-NEWS. November 09, 2012. The Bank of Moscow has launched a new programme for small business loans. It has been developed for enterprises with annual revenues of up to RUB 300 million. The Bank of Moscow is striving to occupy leading positions on the small business loans market. By the end of this year, the bank plans to double its credit portfolio and, in 2014, to become one of the Top Five banks working with small enterprises. In order to achieve this goal, the Bank has set up a Small Business Department and subdivisions for working with small enterprises within the scope of the regional network.

Within he framework of the new small busienss startegy, the Bank offers seven types of loan, including collateral-free ones, both on the basis of business scoring and on that of full-scale analysis of financial activities.

A "Micro-loan" involves obtaining financing within 1—3 days on the basis of a minimum set of documents. The loan is extended for the purposes of replenishing circulating assets, expanding production capacity, etc.

The purpose of a "Turnover" loan is to replenish circulating assets of the enterprise. The loans may be received in a lump sum or as a revolving or non-revolving credit facility.

A "Business development" loan is intended for implementing enterprise development plans and is extended for a longer term — up to 60 months, in bigger sums, with the possibility of debt principal redemption deferral.

"Transport" and "Equipment" loans are granted for the purposes of acquiring/renewing the fleet of road vehicles, special vehicles and production/warehousing/trade equipment, the acquired assets constituting the collateral for the loan.

"Overdraft 40%" and "VIP — overdraft" loans offer an opportunity to obtain an overdraft if the funds on the borrowers account do not suffice.

"In developing the new programme, the Bank endeavoured to take all businessmen’s requirements into account. The main advantages of our product line consist in fully or partially unsecured loans, speed and flexibility of decision-making, one of the broadest regional networks, different loan purposes and forms, and individual loan repayment schedules, as well as an opportunity to receive long-term resources for up to five years", commented Ekaterina Orlova, Director of the Small Business Department of the Bank of Moscow.