Bank News

SME Bank Finances Modernization of Bakery Production in the Novosibirsk Region

09 Декабря 2015
SME Bank allocates RUB 62 mln for modernization of a bakery located in the Novosibirsk Region. The financing is provided to ZAO Bakery Inskoy (Novosibirsk) via Bank Levoberezhnyi under SME-Investments credit product. The borrowing cost for the enterprise is 11.4% p.a., tenor – 5 years. The project costs nearly RUB 90 mln, for its implementation SME Bank has also issued a guarantee to the enterprise securing 50% of the principal amount of the loan. The loan proceeds will be used for purchase of new production equipment. Modernization will enable the enterprise to increase the production up to 15 tons a day.

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