OREANDA-NEWS. The Bank of Moscow has launched a new pilot retail product, a loan called "My Business", developed specifically for individual entrepreneurs and business owners with annual proceeds amounting to 20 million RUR. My Business loan is not an ear-marked product thus allowing the borrower to take a loan for both business development and personal needs.

The key advantage is a reduced list of documents, a flexible approach to income confirmation, no pledge and surety, a long maturity period and no commission. The loan is extended to the amount of 1 million RUR with a 26% fixed annual rate for the term of 5 years.

Currently the My Business loan can be obtained in the following branches of the Bank of Moscow:
 — Moscow: Kurskoye branch, Gagarinskoye branch,
 — Regional branch in Kursk,
 — Krasnodar branch,
 — Stavropol branch.

"The new "My Business" loan is unique in that it combines the advantages of consumer loans for individuals and at the same time permits to use the loan for business development purposes", commented Natalya Konovalova, Vice President and Director of the Retail Product Department of the Bank of Moscow. "We provide broader opportunities to our clients trying to make our products and services more convenient and interesting".