Uniastrum Bank Offers Unsecured Overdrafts for Small Business
OREANDA-NEWS. The lender has come up with a new product that has been specially designed for small business owners looking to borrow between Rb 500,000 and Rb 5 million for up to one year without collateral
Many smaller businesses sometimes find themselves requiring a relatively small loan to fund day-to-day running costs. Uniastrum Bank has put together a product specially tailored to meet this need by offering customers Rb 500,000 to Rb 5 million in credit without requiring them to put up collateral.
Uniastrum's latest product is available to existing customers, as well as to companies that have never used the Bank's services in the past. Customers who have held a Uniastrum checking account for over six months enjoy a preferential interest rate of 18% APR, while new borrowers pay 18.9% or 19.9%. The loan is secured by way of a guaranty signed by the owner(s) of the borrower entity.
Uniastrum is one of Russia's biggest lenders to the small business community. First-half results for 2013 show the Bank placing 10th by credits issued to sole proprietors and 13th by SME loans.
Uniastrum Bank provides one of the best deals on the Russian SB finance market. Based on data compiled by Credit for Business.ru web portal, Uniastrum ranks among the country's Top-20 for cut-price SB-development loans and customer-friendly programs for renegotiating loans with other banks.