SME Bank, a subsidiary bank of SME Corporation, has reduced express loan rates by 1 percentage point, according to the bank’s press service.
Given the 2% increase in the key interest rate for businesses, this means SME Bank loans will now be 1-3% below market. Under preferential financing schemes, the minimum rate now varies between 12.5%.
“We expect other large banks to also find the opportunity to keep interest rates at the same level at least for a while in order to support entrepreneurs, because the SME sector is one of the main participants in the structural restructuring of the economy.” CEO of SME Corporation, Chairman of the Supervisory Board of SME Bank Alexander Isaevich.
As noted by Ivan Podbereznyak, Chairman of the Board of Directors of SME Bank, the bank plans to switch to an accelerated process for approval of express loans in the near future.
“We are now focused on restarting our express credit line. Our bank plans to move to an accelerated approval process for express loans in the near future. “In addition, the number of documents required to obtain a loan will decrease,” he said.
Let us remind you that SME Bank provides support to businesses within the scope of the national project “Supporting Small and Medium Enterprises and Individual Entrepreneurship Initiatives”. Its implementation is supervised by the First Deputy Prime Minister of the Russian Federation Andrei Belousov.