Slovak Guarantee And Development Bank (SZRB) is to provide guarantees on Tatra Banka small- and medium-sized enterprises (SMEs) loans up to Skk 3 m. Both parties signed the agreement on 16 March to simplify and accelerate the administration process of providing guarantees.
“The main goal of these fast guarantees is the sharing of Tatra Banka‘s possible losses. In case an enterpreneur is not able to redeem a loan to Tatra Banka, half of the unpaid principal will be paid by SZRB,” explained the first Tatra Banka vice-president Miroslav Ulicny. “Taking on only half the risk enables a flexibile approach to SME financing,” he added.
Tatra Banka provided loans to SMEs of Skk 5,2 bn by the end of 2004.
“Signing an agreement with Tatra Banka has fulfilled SZRB‘s strategic goal of support of the priority SME segment”, said the head of SZRB board of directors, Ludovit Konczer.
Source: Hospodarske Noviny
