The loan’s primary purpose is to complete work on two unfinished buildings, enhance day-to-day cash flows, and acquire additional generation capacity.
Rekon Profi LLC was established in 2004. Since 2009 the company has been registered under the brand name Moy Dom Retail Complex, which leases retail premises totaling 8,000 sq m in area. Moy Dom is a modern complex offering a large and rich mix of stores selling a wide range of merchandise, including furniture, household appliances, auto parts and accessories, etc. Partnered by Uniastrum Bank, the company is currently moving ahead with the construction of the third phase of a shopping mall with a total area of 3,000 sq m. Moy Dom is meantime also building a 500 sq m auto service center and upgrading utility lines.
Moy Dom Retail Complex is situated in the north of Reutov in the Moscow region, not far from the town of Balashikha, in the midst of road interchanges intersecting with the Moscow Ring Road and the Moscow – Nizhny Novgorod federal highway. The mall’s pivotal location makes it an ideal shopping venue for people living in surrounding areas.
“Uniastrum Bank provides a straightforward and convenient loan service, which is a major plus when it comes to business development,” says Rekon-Profi CEO Sergei Radchenko. “Our partnership, even at this early stage, has been highly constructive. We’re happy with the credit conditions and we hope to continue working with Uniastrum over the longer term.”
Uniastrum Bank offers corporate clients a special lending program called U-Super Prime, whose minimum loan amount is either Rb 30 mn or $1 mn (or the Euro equivalent). Without doubt, U-Super Prime’s most attractive feature is its customer-friendly interest rates, which begin at just 13.7% APR for ruble-denominated credit and at 10.7% APR for loans issued in foreign currency, with an arrangement fee equaling 2.7% of the principal. A U-Super Prime loan can be used for any purpose, such as, among others, replenishing working capital (for a period of up to 5 years, with mandatory payments just once every 12 months) or for investments (up to 10 years, subject to an agreed payment schedule). The scheme is open to enterprises that have been operating for at least 2 years and have no negative credit history.
September 2009 marked the start of sustained growth in demand for business loans, resulting in healthy incremental growth for Uniastrum’s corporate credit portfolio, which expanded 64% in FY09, tipping the scales at Rb 35.7 bn as of year-start 2010.
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com