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The Bank of Moscow offers a new loan product for small businesses — “Redemption of leased premises being state or municipal property”

The Bank of Moscow offers a new loan product for small businesses — “Redemption of leased premises being state or municipal property”

  • Russia
  • A new loan product is designed for small businesses that plan to implement their pre-emptive right under Federal Law No.159-FZ to purchase premises, leased by them, belonging to the state or municipalities, as well as for those clients, who have already purchased the leased premises under Federal Law No.159-FZ, having signed a purchase and sale agreement (with payments by instalments), and need to refinance their current debt on more favourable terms.
  • Bank of Moscow
  • http://www.bm.ru/en
  • corr@mmbank.ru
  • http://www.bm.ru/en/newsroom/newsroom/74601

The maximum amount of funding provided under this loan product is 150 million roubles for the period of 7 years, the amount of the initial payment is at least 10%. Within the framework of the loan programme the postponement of repayment of principal amount for a period from 3 to 9 months, depending on financing terms, is provided.

Within this very programme the client can purchase a non-residential premise in a residential or non-residential building, an isolated non-residential building, as well as a part of a non-residential building, which is recognized as an independent object of the real estate located on an undivided land plot.

“We are constantly optimizing the product line for small businesses: we are improving conditions on existing loans and introducing new products. We hope that due to this new loan product we are able to offer our customers a real support which will be available to a significant number of small businesses across the country,” commented Yekaterina Orlova, the Director of Small Business Department of the Bank of Moscow.

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