Friday, October 28, 2011

Microloans for Small Businesses

Agency "Microfinance, founded the bank VTB 24 and NP" Moscow Center for Entrepreneurship Development in December 2007, the beginning of their lending to individual entrepreneurs and small businesses. The company provides quick access to financial resources, simplification of procedures for issuance of the loan and the availability of microfinance for the majority of small business clients. Loans granted to entrepreneurs and organizations working in construction, wholesale and retail trade, miscellaneous services (hairdressing, repair work of all kinds, travel agencies, transportation services). Maximum loan amount - 350 thousand rubles, loan term - up to 2 years. The deposit is not required. The interest rate - 23-26% per annum (depending on the availability of guarantors), and in that case, the bank's borrower must pay the fee for application review - 2% of the loan amount. Today in Moscow opened four centers of microfinance to the end of the year plans to launch six more such centers - one in each of the administrative districts of Moscow. A similar project - the creation of commercial microfinance organizations on an equal footing with the structures of regional government - is unique for the Russian banking market, reports the press service of VTB 24.

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