Alliance Bank Recommenced Crediting of SME at Expense of Own Funds
OREANDA-NEWS. February 12, 2010. Alliance Bank (Almaty), bonds of which are present in Kazakhstan Stock Exchange (KASE) official list, informed KASE that Alliance Bank announces recommencement of crediting of small and medium size business (SMB) subject at the expense of own funds, reported the press-centre of KASE.
For funding the bank allocated about KZT15 bn. Credit lines shall open for SMB subjects to supplement circulating funds for 24 months. The maximum loan size - KZT750 m, the interest rate - from 15% per year, the interest for credit organization shall not be charged, the penalty for early repayment is absent. One of the main terms are:
- existence of business valid for not less than 6 months,
- absence of debts on taxes and other mandatory payments to the budget over 10 (ten) MCI,
- absence of past due debts to the second tier banks,
- existence of the positive credit history.
This crediting program is the first in the modern history of Alliance Bank, which at present is restructuring obligations. The bank in 2008-2009 successfully implemented government programs on SMB subjects funding, however did not issued credits at the expense of own funds.
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