Do banks hand out credits to new clients in July 2010?

Oleg Kruglyak
Head of the corporate business department

Nowadays many banks proclaim their readiness to renew small and medium size businesses crediting, but approach towards crediting itself has dramatically changed since 2008. Banks restricted their demands to borrowers financial conditions choose loans security deposits more censoriously and tighten grip of credits’ proper use. A special attention is paid to the clients’ credit history, business development, shopping or working areas ownership. It is also important if clients are ready to cooperate with this bank in other spheres (deposit programs, cash and settlement services, salary projects, etc). Correspondently clients have to bring at least some part of their businesses out of shadow. Though positive changes are obvious, banks do not push on to expand their credit lines for business. In general they mostly offer short term working capital loans. Peculiar feature of today’s crediting is individual approach towards every client. In words of one syllable it means that if the bank is interested in cooperation with your company, it is possible that it makes interest rates, security deposit and credit terms concessions.