Russian Agricultural Bank JSC (the Omsk branch is the Omsky Biocluster member) has launched a new Micro Agroindustry Product for seasonal work and replenishment of working capital. The decision to open a credit line is made from three working days and on the basis of a minimum package of documents. Farmers can borrow up to RUR 5 million ($ 76,000) for a period of up to 1 year at a reduced rate of up to 5% per annum.
According to the terms of the banking product, customers need to have an open current account with the Bank. Borrowers will have the opportunity to choose a loan repayment scheme either by a monthly differential payment, or according to an individual schedule.
"Supporting farmers is one of the most important tasks of the Russian Agricultural Bank. We understand that athvth requires affordable loans for business development that can be obtained quickly and without unnecessary bureaucracy. To this end, the Bank launched a new Micro Agroindustry Product, intended for manufacturers and processors agricultural products," Maxim Lyubomudrov, Deputy Chairman of the RusAg Management Board, said.
Source: RusAg Press Service.
