OREANDA-NEWS. September 08, 2011. The Bank’s credit initiative will make it easier and more affordable for small enterprises and sole proprietors to renegotiate existing loans with other banks, reported the press-centre of Uniastrum Bank.

Small and unincorporated businesses can take advantage of Uniastrum’s new loan option “Trusted Partner” in order to pay off debts owing to other banks – at lower interest rates and over a longer period. Applying for the program is refreshingly straightforward and involves the barest minimum of paperwork formalities.

Refinancing applicants receive the Bank’s decision within three business days, which is taken on the basis of the potential borrower’s credit history and the company’s revenue performance. Assets lodged as collateral with other bank(s) serve as security against the credit to be refinanced. Once Uniastrum agrees to grant the loan, funds equal to the total amount outstanding, including interest incurred and other payments required for early settlement, are transferred to the bank creditor.

“Paying less for loans is something that naturally appeals to any entrepreneur,” says Kirill Tikhonov, Uniastrum’s Managing Director for Corporate Business Development. “A business owner with a good credit history has already shown himself to be reliable and should, therefore, be able to borrow at a minimal rate of interest and be given a generous term of repayment. “Trusted Partner” makes monthly debt servicing costs considerable more affordable, making for enterprises with sustained, dynamic growth.”