To be used for investment purposes and to enhance day-to-day cash flows, the credited funds have been issued under the Bank’s U-Super Prime program by way of a non-revolving credit line, repayable in 5-10 years.
Uniastrum Bank’s U-Super Prime credit product allows corporate clients to access upward of Rb 30 bn or $1 mn (or the euro equivalent). The loan can be used for topping up working capital (maximum loan term of 60 months, with obligatory once-a-year payments), or for investment objectives (up to 10 years, with a prearranged payment plan). A U-Super Prime loan is available to any business that has been operating at least 2 years and does not have a negative credit history.
“Our working relationship with Uniastrum Bank has enabled us to scale up output at our Rodnik plant and move into new markets,” says Andrei Baranov, Bruk Group CEO. “By taking advantage of Uniastrum’s offer to refinance our investments, we’ve been able to cut costs on servicing the loan we secured on Irkutsk Cold Storage Complex and to improve the enterprise’s working capital position. Also, the high standard of service and attention to detail shown by staff at the Bank’s Irkutsk Branch, as well as the customer-first lending solutions, made Uniastrum our first choice when it came to adopting a payroll program”.
According to Vasily Boyarkin, manager of Uniastrum’s branch in Irkutsk, one of the Bank’s competitive advantages on the corporate lending market is that it grants businesses long-term credit repayable over 10 years, making it a particularly useful business tool for expanding the local economy. “Clinching these loan agreements with the Bruk Group is extremely important for us and fully in line with Uniastrum’s priority objectives as regards upsizing the Bank’s business volumes in Russia’s regions”.
Bruk Group is made up of enterprises holding leadership positions in the region’s food sector: Rodnik Plant, Irkutsk Cold Storage Complex, and Irkutsk Ice Cream. All businesses operating under the Bruk roof are fully fitted with the latest in technology, have high standards of quality control, and are rigorously customer-focused.”
For more information call or write Press office:
744 04 04, ext. 1066, 1119
press@uniastrum.com