Not enough collateral to get a loan? Take advantage of the new offer from Keremet Bank!
With regard to occurred events, 2020 turned out to be a difficult year for domestic business and Keremet Bank continues to support its clients creating the most comfortable conditions for cooperation. Thus, the agreement recently concluded between the bank and Guarantee Fund OJSC made borrowing of the loan in the bank as convenient and profitable as possible, even if the collateral is insufficient. KANAT KARAGULOV, Head of the Lending Department of Keremet Bank, tells about new business opportunities and how to benefit from them.
- It is not easy to compete in the banking services market now: banks provide almost similar services on similar terms and the post-pandemic crisis is also affecting. How does Keremet Bank act in this situation?
- It is important for us to correctly and effectively place the funds of our clients and shareholders entrusted to us on the market, so our lending policy is based primarily on an individual approach to each client. Keremet Bank always tries to understand the needs of the client and offers popular lending products that are beneficial to a particular business. Even during the pandemic, we have always been on the side of entrepreneurs: we have restructured and granted delays in loan repayment, financed them on preferential terms from an internal fund created specifically to support business people affected by the consequences of the spread of COVID-19 in Kyrgyzstan.
- An individual approach is certainly an advantage, but the key factor for choosing a lending bank is the conditions offered by the financial institution.
- Our task is to ensure that the bank's lending products open up new opportunities for business and do not become a burden for it. The bank has a line of lending products consisting of various types of loans according to client preferences for various purposes. At the same time, we give clients the opportunity to aggregate loan limit, provide an individual payment schedule or a grace period for loan repayment. Now we have in the arsenal another beneficial advantage for your business. It happens that the client does not have enough collateral to get the required loan amount, and our joint offer with the Guarantee Fund helps to solve this issue.
- If you are an entrepreneur and you do not have enough collateral to get the necessary amount of borrowed funds, you can issue a guarantee and get the required loan amount.
- How does it work?
- I'll explain it by giving a simple example. For example, the client needs a business loan in the amount of 5,000,000 soms, but there is not enough collateral for 2,000,000 soms to get it. Thanks to our joint project with the Guarantee Fund, the client will be able to issue a guarantee and get a loan in full only by paying one-time commission. It is worth noting that the guarantee can cover up to 50% of the required loan amount. One of the advantages is that we use the “one-stop-shop” principle: the client does not need to spend time collecting additional documents and to come anywhere except to the bank's office - the employees themselves control all the logistics for processing the necessary papers with Guarantee Fund OJSC.
- Are there any priority areas of business activity for obtaining this guarantee?
- If we can help the business, we will always do it. Each business has its own reasons for the loan, background and peculiarities which should be taken into account: whether it be required in a pandemic, health care and education, or sectors such as trade, agriculture, manufacturing or processing.
- We do not restrict our clients and if there is insufficient collateral, we provide an opportunity to use the guarantee for all existing lending products for business.
- What are your expectations from the joint project with the Guarantee Fund?
- We have the most positive expectations. Less than a month has passed since the agreement was signed and we are already seeing a lot of interest in this service from the business sector. I am confident that we together with the Guarantee Fund will be able to contribute our fair share to the development of entrepreneurship in the country and support domestic business.
More detailed information about lending to entrepreneurs within the framework of the joint project of Keremet Bank and the Guarantee Fund will be available at the 24-hour contact center of Keremet Bank by phone (0312) 55 44 44, via WhatsApp - (0557) 55 44 44 and the official website, as well as by contacting the bank's service offices directly.
