SDM-Bank Perm Branch strikes an agreement with Perm Guarantee Fund
Based on the results of an open tender, in July 2014 Perm Guarantee Fund (PGF) signed a SME Liabilities Guarantee Agreement with SDM-Bank Branch in Perm.
The point of this partnership is to provide businesses with a better access to credit resources, and to encourage banks to offer concessional products to SMEs. Under this agreement, PGF will provide guarantees for loan agreements between SDM-Bank and SMEs in Perm, and therefore split the credit risks.
PGF guarantee will cover up to 70% of a loan amount with the term of up to 5 years, which will make SDM-Bank credit resources better available to small and medium enterprises that do not have enough collateral.
«One of SDM-Bank core strategies is to provide most favorable credit conditions to small and medium companies. The Bank is extensively working on expansion of access to our credit resources, and partnership with PGF is an important step in this process» – says Alexander Shishmagaev, Head of SDM-Bank Branch in Perm.