YEREVAN, July 28. /ARKA/. VTB Bank (Armenia) has launched a unique lending program for small businesses, the bank’s press office reported on Friday.

Now legal entities and private entrepreneurs can take unsecured loans amounting to up to AMD 7 million without careful financial analyses at interest rates that start from 13.9%.

The simplified decision-making process takes just eight to ten hours.

In particular, the loans up to AMD 1 million are provided with just one guarantor and the loans amounting to more than AMD 1 million with two guarantors.

The loans are provided for solving business problems (increasing working and fixed assets) and for repaying the loans taken from other banks and credit organizations.

To receive details one can visit VTB Bank (Armenia) offices or call 87-87.

VTB Bank Armenia (Armenian Savings Bank before June 2006) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 67 branches all over Armenia’s territory - the largest branch network in the country. VTB Bank (Armenia) is reckoned among leaders for general indicators. ($1 – AMD 478.73). --0---