OREANDA-NEWS.  August 18, 2014. The new loan product has been developed for small businesses that require financing to perform contracts entered into with state or municipal customers.

The new "State Contract" loan provides financing of costs to perform contracts entered into with numerous entities including state and municipal customers, budget institutions procurement whereof are at the expense of budget subsidies and entities the Bank deems equivalent to state customers. The new loan period is 24 months (inclusive).

Maximum amount of financing provided within the framework hereof is up to 70% of the contract costs, but not less than RUB 150 million. The State Contract product provides for individual loan repayment schedules based on terms and conditions of the contract being entered into, the opportunity to secure the loan by pledge of claims under the contract being financed and absence of early principal repayment fees at the expense of monetary proceeds from the customer within the framework of the contract the Bank is financing.

"The new "State Contract" loan became another product in the line of Bank of Moscow products for small businesses both operating in the state contract market and planning to enter it. We try to make state contracts more available to small businesses and offer our client comfortable, simple and efficient solutions", Ekaterina Orlova, Head of Small Business of the Bank of Moscow, commented.