NOMOS-BANK signs an agreement on co-operation with the Guarantee Fund of the Chuvash Republic

Under the co-operation agreement, the Fund will be able to issue payment guarantee letters for small business clients who do not have own property to be used as collateral. The Fund’s warranty will be considered by NOMOS-BANK as collateral, which significantly expands credit opportunities of small business owners.

“NOMOS-BANK has co-operation experience with a number of funds that facilitate lending to small business, — notes Oleg Yushkov, Director of NOMOS-BANK Small Business Department. — We could see in practice that the joint efforts of such funds and the banks help to efficiently solve the problem of insufficient collaterals, which is a pressing issue for many small businesses”.

Small business lending is a priority business area for NOMOS-BANK. The Bank offers a number of programmes focusing on solving strategic development tasks of small and medium enterprises. They include loans for business development — loans for replenishment of circulating capital and long-term lending; loans for the purchase of real estate and mortgage loans; microloans programme; as well as overdraft lending to companies with cash gaps in their settlement accounts. NOMOS-BANK also participates in the programmes under which loans are extended against guarantees provided by specialised organisations that render assistance to small business owners.