Center-Invest Bank, the leading southern Russian bank, has secured a RUR160m credit line from the Russian Bank for Development, which is to be used to finance SMEs in southern Russia.
Under the terms of the agreement, Center-Invest is to give priority for financial assistance to industrial and manufacturing companies, companies that are implementing innovative and high-technology projects, and also projects that are designed to develop the infrastructure of SMEs.
Center-Invest Bank has been running programmes to support SMEs in southern Russia for ten years. In 2002 Center-Invest became the first bank to participate in the Russian Bank for Development's SME Lending Programme. Already, 16,500 SMEs and 11,000 self-employed individuals choose to bank with Center-Invest.
In 2007 Center-Invest Bank granted SMEs 7,222 loans totalling RUR16.2bn. Among all of Russia's banks Center-Invest now ranks 5th in terms of number of loans to SMEs and 6th in terms of total value of SME lending. This testifies to the Bank's success in continually improving its existing loan products and introducing new loan options for SMEs and self-employed individuals.
Center-Invest Bank offers more than 11 loan products, including:
- A new option allowing customers to acquire commercial property by using the real estate itself as collateral;
- Energy efficiency finance;
- Unsecured loans, under guarantee;
- Standard projects for SMEs in southern Russia;
- An online loan application system for SMEs;
- Car and real estate leasing;
- Overdrafts.