SDM-Bank broadens its partnership with SME Bank on SME Financial Support Program
SDM-Bank has been partnering with SME Financial Support Program since 2009. In 2014 the partnership areas were broadened – now SME financing support will also be provided through factoring products («Non-trading factoring – SME-Bank»).
SME-Bank implements SME Financial Support State Program since 2004. One of the key elements of the program is to facilitate SME development across the country. The financial support is provided through partner banks, factoring companies, micro-financing organizations, etc.
SDM-Bank and SME-Bank have signed a RUB 200 mln. credit line agreement for 1 year. Now SDM-Bank uses factoring to provide SME financing funded by SME-Bank special purpose fund. SME-Bank provided funds will be used to finance non-trading SME companies providing goods on a deferred-payment basis.
From the very beginning, the Bank has been focusing on servicing small and medium enterprises. Engagement in this program is another step within the adopted strategy, - says Maxim Solntsev, SDM-Bank CEO.