Russian Agricultural Bank launched a new loan product 'Seasonal Light' for seasonal works, aimed at the current customers of RusAg (Omsk branch is member of Omsky Biocluster) - small and micro business enterprises. Now the Bank's clients have an opportunity to receive targeted loans in the amount of up to 50 million rubles ($ 873 thousand) in an accelerated manner. Only two documents (a loan application and a certificate from the tax authority) are needed to obtain a loan of up to 5 million rubles ($ 87 thousand). If the amount of the application exceeds 5 million rubles ($ 87 thousand), the applicant must additionally provide the Bank with information about the fixed assets of the enterprise and the planned volumes of activity.
One of the important advantages of the new loan product will be mitigation of the collateral requirements - an unsecured or partially secured loan is possible depending on the client's financial condition. As security, the existing collateral for the loan in the Bank can be used, as well as a surety or guarantee under the national guarantee system. Representatives of agribusiness, including consumer and production cooperatives, can use the terms of preferential programs with state support, including at a rate of up to 5% per annum, in order to reduce the cost of lending for the 'Seasonal light' product. RusAg is a leader in the domestic market for seasonal loans. Since early 2018, the Bank has issued over 70 billion rubles ($ 1.222 billion) of credit for these purposes.
Source: RusAg press center.
