Raiffeisen Bank Belgrade offers new micro credits - €3,000-€100,000

Raiffeisen Bank has broadened the range of credits it offers to small enterprises, micro enterprises, entrepreneurs and automobile buyers. The bank intends to expand and to maintain leading position in Serbia, so that it will open another 16 branches until end of 2005.

Companies with annual income of up to €500,000 will be able to choose from several types of micro credits ranging from €3,000 to €100,000 and to obtain them within only 2 days. Payment deadlines are 12, 24, 36, 48 or 60 months, with possibility of use of grace period of 3 -6 months. The condition for approval of such credits is that micro company and entrepreneurs operates successfully for at least 2 years and that they do not have any debts.

Raiffeisen Bank plans to approve €100m to small and mid-sized companies until the end of 2005. The bank raised the limit for credits it approves to such companies from former €250,000 to present €750,000.