SDM-BANK received a 5-year loan in the amount of USD 1,12 million.
15.10.2007SDM-BANK received a 5-year loan in the amount $1.12 million from WorldBusiness Capital, Inc. to finance the purchase by one of the customers of equipment made in the USA . The loan is supported by the Export-Import Bank (Ex-Im Bank) of the United States. This is the second loan received by the bank from WorldBusiness Capital, Inc. which was guaranteed by Ex-Im Bank.
SDM-BANK offers services mainly to small and medium enterprises (SME) in Moscow and in 6 other regions of Russia. The bank’s SME loan portfolio exceeds $250 million as of June 01, 2007.
The loan was made by WorldBusiness Capital, a commercial finance company established in 2003. It specializes in lending to SMEs operating in emerging markets.
The Export-Import Bank (Ex-Im Bank) of the USA is the official export credit agency of the country . Ex-Im Bank's mission is to assist in financing the export of goods and services to international markets.
“Another loan received from the foreign company shows growing credibility of the bank,” said Mr. Maxim Solntsev, Chief Executive Officer of SDM-BANK.
"WorldBusiness Capital is pleased to have the opportunity to make another loan to SDM Bank to support the purchase of equipment from the USA . This will be WorldBusiness Capital’s third loan overall to SDM Bank and the second one that uses the programs of the Export-Import Bank of the United States. Our focus on SDM Bank is based on our estimation of the bank as a dynamic financial institution with outstanding management. Moreover, the bank’s sound business practices along with their adherence to the highest standards of transparency make them an ideal prospect for foreign financial institutions that are seeking a reliable partner among medium-sized financial institutions in ,” commented Mr. Robert D. Monyak, Executive Vice President and Chief Lending Officer of WorldBusiness Capital.