SME Bank, NBD-Bank Conclude Guarantee Agreement on SME Support
OREANDA-NEWS. April 18, 2014. SME Bank (Vnesheconombank Group) and NBD-Bank have concluded a framework agreement for up to RUB 500 millionon financing of investment projects of medium-sized enterprises under SME bank guarantees.
The agreement will provide affordable financing for enterprises in the Nizhny Novgorod, Vladimir, Ivanovo, Kirov and Penza Regions,in the Chuvash Republic and the Republic of Mary El.
SME Bank and NBD-Bank have cooperated under the SME Lending Support Program since 2003. The track record includes 19 loan agreements for a total amount of RUB 1.7 bln, 386 SMEs have been financed. As of January 1,2014 100% of resources were allocated among innovative SMEs.