The financial crisis has seen an increasing amount of cost-conscious motorists opting for small service stations and car care centers. Uniastrum is now offering these enterprises a wide range of partnership options.
Uniastrum’s new lending initiative is geared toward small and mid-sized businesses in the auto services segment, to which it is prepared to extend credits of up to Rb 30 mn.
Uniastrum fully understands the importance of supporting smaller entrepreneurs who are looking to expand their businesses by acquiring, refurbishing or renting premises, upgrading equipment or buying additional machinery in order to expand their service and product range, etc. Loans for investment purposes (e.g. for purchasing or refurbishing premises, upgrading equipment) are repayable within a period of up to 10 years, while credit to enhance day-to-day cash flow as a way of ensuring, for instance, regular deliveries of spares and consumables is available for a maximum of 3 years. Interest rates for ruble-denominated loans start at 17.7% APR, while those for credits taken out in dollars or Euros begin at 14% APR.
Loan payments are usually annuity-based (i.e. made in fixed monthly installments). Paying off the loan each month costs borrowers almost half the amount it would if the facility were settled in full at the end of the loan period.
Loans can be collateralized with acquired assets (equipment, real estate), third-party guarantee, as well as by a guarantee issued by the Small Business Credit Assistance Fund equal to up 50% of the principal amount. Once submitted, a loan application is processed within 5 business days. For customers’ added convenience, an application form can be completed on-line on the Bank’s website at www.uniastrum.ru.
Uniastrum Bank staff take into account not only a client’s official financial reports, but also internal accounts. The borrower is advised on the available credit options, as well as ways to optimize his or her business activities in order to make the most of the loan facility. If necessary, we are ready to defer repayment of the principal amount for up to 6 months and to tailor the loan payment schedule to suit individual needs.
Uniastrum’s business services are not confined to lending alone. The Bank’s corporate cards and payroll card schemes enable companies to transfer funds to employee cards, helping to cut costs, including spending on cash replenishment, and to use in-house funds by means of a checking account when paying staff travelling and administrative expenses. Also, employees in possession of a payroll card enjoy extra benefits, such as, among others, preferential credit terms.
Today, an increasing number of motorists are using plastic cards, which are fast becoming indispensable when paying for auto services. Uniastrum is happy to provide enterprises with all the necessary equipment and services absolutely free of charge. The Bank also invites them to take part in a mutually beneficial promotional initiative called “Discounts and Bonuses for Uniastrum Bank Card Holders” which is all but guaranteed to boost a car-care center’s client numbers by around 20%. Details of promotion participants are already being sent out to bank card holders and can be found on the Bank’s website, as well as in leaflets that can be obtained at any Uniastrum branch and from organizations collaborating in the initiative.
Uniastrum Bank is ready to offer auto service customers personal loans under its U-Money lending program. Borrowers are able to take out anywhere between Rb 50,000 and Rb 900,000, thereby enabling them to carry out even the most challenging refurbishment right now. Loan repayment terms range from 6 to 60 months, and there is no extra charge for early settlement. Motorists can also use Uniastrum Bank credit cards if they find themselves temporarily strapped for cash.
The auto business is guaranteed to remain a part of modern life, and anyone with an automobile inevitably uses the services of auto maintenance and repair shops. Be that as it may, no business can be built up without effective and versatile financial services. This is precisely where Uniastrum Bank can be relied on to help.
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com