OREANDA-NEWS. Sberbank has launched a loan product called "Business Assets", which business clients can use to purchase equipment. The product involves drawing up letters of credit with suppliers, and is intended for representatives of small and micro business. Loans are provided for five years and have a minimum down payment of 20%.

"The advantages offered by out 'Business Assets' product include the option of using the acquired equipment as collateral and a low interest rate that starts at 14.97% per annum," commented Andrey Sharov, Vice-President and Head of Sberbank's Small Business Development Department.

"Newly acquired vehicles can also be used to secure the loan. We are certain that this product will give small businesses the opportunity to reach a new level of development."