NOMOS-BANK increases credit limit for small business to 80 million Roubles

NOMOS-BANK has increased the maximal loan amount for small business. Under the new terms, small enterprises will be able to obtain up to 80 million Roubles.

“Russian small business is growing, — underscores Oleg Lugovoy, Head of NOMOS-BANK Retail Lending Division. — We can see that it displays interest in projects of a larger scale and longer terms, so we timely make corrections in our programmes to meet our clients’ demands”.

The current increase in the maximal limits on loans to small enterprises is the second increase that has taken place recently. In late August, NOMOS-BANK also improved lending terms having extended the maximal term of loan to 7 years.

This will allow the Bank to dynamically develop small business lending. During the period from 1 January to 15 September 2008, NOMOS-BANK small business loan portfolio has soared by 166% to 5.32 milliard Roubles. Between 30 June and 15 September, the portfolio grew by circa 42%.