OREANDA-NEWS. September 12, 2014. SME Bank (Vnesheconombank Group) will provide RUB 750 million to UniCredit Bank for support to non-trade SMEs via factoring.

The resources are allocated for 2 years under Non-trade Factoring – Bank credit product.

Non-trade SMEs - enterprises involved in manufacturing and services - will receive financing under assignment of receivables.

SME Bank and UniCredit Bank have cooperated under the SME Lending Support Program since 2009. Since then over 300 SMEs have received 1.6 billion rubles in financing, the weighted average interest rate is 12.6% p.a.