The Russia Small Business Fund, a program of the European Bank for Reconstruction and Development (EBRD), provides small businesses with finance to fit their particular requirements and to help strengthen the capacity of the Russian banking sector so that it may effectively lend to small businesses.

Updated March 1999

Introduction
Supported by the G-7 countries and additional contributors, the EBRD has established a $ 300 million fund, half of which is being funded from EBRD resources and half from donor countries.

The Russia Small Business Fund provides micro and small loan financing through a number of Russian banks located throughout the country. Loans are given on a purely commercial basis. Businesses must have adequate financial standing and cashflow, market demand for their product, and sound management in order to be considered for financing.

Small loans are available in amounts of up to $125,000 with maturities of up to a maximum of 3 years. Such financing has not been accessible previously for small firms from local banks. The loans are available to companies with up to 50 employees involved in production or service industries. Potential borrowers must have sufficient cash-flow and good management skills to obtain credit.

They should also have their own funds to put into the project. Micro credits, of $100 to $30,000 rouble equivalent, are generally for shorter terms to begin with; as companies build up a credit record they are allowed subsequent longer and larger loans, for all purposes (trade, services, and investment). The firm's debt capacity is ana-lyzed before loans are extended. Individual entrepreneurs and firms with up to 20 employees may apply for micro-credits.

EBRD consultants, International Projekt Consult (IPC), Shorebank, and Bank of Ireland are working in regional banks alongside credit officers to analyze loans and to increase the banks' institutional capabilities. The program was initially implemented in three regions, Tula, Nizhny Novgorod and Tomsk, but has expanded to include Ekaterinburg, Kemerovo, Novo-sibirsk, St. Petersburg, Samara, Togliatti, Omsk and Moscow. There are currently 12 local banks and multiple branches which participate.

The Russia Small Business Fund has also invested in Small Enterprise Equity Funds in Nizhny Novgorod and St Petersburg. These funds, which are managed on behalf of the Bank by Small Enterprise Assistance Funds (US), invest a combination of equity and long-term debt in small businesses employing up to 150 people in production or service industries. The maximum investment is $300,000.

Russia Small Business Fund:
Regional Contacts:
Yekaterinburg
Micro/Small Loans: Bernd Buschman
Tel.: 011 7 (3432) 561-639 or
011 7 (3432) 583-766

Kemerovo
Micro and Small Loans: Thomas Oetter
Tel./Fax: 011 7 (3842) 538-566

Moscow
Micro Loans: Martin Holtmann,
Reiner Muller-Hanke
Tel.: 011 7 (095) 209 2061
Tel./Fax: 011 7 (503) 232-3821
Small Loans:
Lauren Moser
Tel.: 011 7 (095) 230-3456 or 230-3173
Tel./Fax: 011 7 (095) 258-7590 or 230-3097
Stepan Boven
Tel: 011 7 (095) 231-4448
(See participating banks for additional contact numbers.)

Nizhny Novgorod
Micro Loans: Christoph Freytag,
Tim Engmann
Tel.: 011 7 (8312) 308-753
011 7 (8312) 334-723
Small Loans: Marina Titova
Tel./Fax: 011 7 (8312) 333-447
Small Enterprise Equity Fund: Eric Johnson
Tel./Fax: 011 7 (8312) 354-345
Tel.: 011 7 (8312) 354-285

Novosibirsk
Micro and Small Loans: Dirk Felske
Tel.: 011 7 (3832) 257-910
Vincent Pearson
Tel.: 011 7 (3832) 110-596, or 251-973, or 201-291

Omsk
Andreas Francke
Tel.: 011 7 (3812) 310-306

St Petersburg
Micro Loans: Matthias Fohs, Kai Ilm
Tel.: 011 7 (812) 275-3893
Fax: 011 7 (812) 272-1108
Small Loans:
Neil Ramsden
Tel./Fax: 011 7 (812) 209-9775
John Whelan, Pat Murphy
Tel.: 011 7 (812) 219-6693
Fax: 011 7 (812) 219-6680

Samara
Micro Loans: Alexander von Gleich
Tel.: 011 7 (8462) 332-211
Small Loans: Irinal Fradkova
Tel.: 011 7 (8462) 415-417

Togliatti
Micro Loans: Elke Oehme
Tel.: 011 7 (8469) 326-654, or 233-415
Small Loans: Connie Max
Tel.: 011 7 (8469) 338-185
Fax: 011 7 (8469) 480-468

Tomsk
Micro and Small Loans: Ludmilla Dause,
Ilonka Ruhle
Tel.: 011 7 (3822) 232-058 or 232-781

Tula
Micro Loans: Julia Abakayeva
Tel./Fax: 011 7 (0872) 364-168

EBRD Russia Small Business Fund
Management Team:
Elizabeth Wallace, Mike Taylor,
Nick Tesseyman
EBRD
Russia Small Business Fund
One Exchange Square
London EC2A 2EH
United Kingdom
Tel.: 011 44 (171) 338-6511 or 338-7205
Fax: 011 44 (171) 338-7163

Banks currently participating in the
Russia Small Business Fund Program

Yekaterinburg
Uralpromstroybank (micro loans)
ul. Marshal Zhukov 6
620219 Yekaterinburg
Tel.: 011 7 (3432) 512-188
Fax: 011 7 (3432) 512-438

Sberbank (micro and small loans)
Melkovskaya, 2b
620027 Yekaterinburg
Tel./Fax: 011 7 (3432) 586-600

Mosbusinessbank (micro loans)
Frunze St. 35a
620062 Yekaterinburg
Tel.: 011 7 (3432) 220-500

Kemerovo
Kuzbassotsbank (micro and small loans)
90/4, pr. Lenina
650099 Kemerovo
Tel.: 011 7 (3842) 315-795

Moscow
Stolichny Bank
(micro and small loans)
Headquarters
ul. Piatnitskaya, 70
113095 Moscow

Polyanka branch
ul Polyanka, 50
Tel.: 011 7 (095) 236-4460,
or 237-5504

Branch No. 1
GUM Department Store
Tel.: 011 7 (095) 923-0807

Branch No. 2
Tverskaya ul, 16/2
Tel.: 011 7 (095) 250-8801

Branch No. 7
Per Sivtsev Vrazhek, 20
Tel.: 011 7 (095) 241-7340

Branch No. 11
ul. Lazo, 2/30
Tel.: 011 7 (095) 306-0720

Branch No. 14
ul. Smolnaya, 22
Tel.: 011 7 (095)457-581

Branch No. 15
ul. Chekhova, 24/2
Tel.: 011 7 (095) 925-0104 or
925-0477

Branch
ul. 1905 goda, 10a
Tel.: 011 7 (095) 253-3872

Branch No. 22
Boulevard Yana Rainisa, 41
Tel.: 011 7 (095) 913-5001

Branch No. 24
 Komsomolskiy Prospekt
Tel.: 011 7 (095) 230-3846

Branch No. 30 (small loans only)
Prospekt Mira, 41

Nizhny Novgorod
Sberbank(micro loans)
21/10 Gargarin Avenue
603022 Nizhny Novgorod
Tel.: 011 7 (8312) 370-871
Fax: 011 7 (8312) 370-871

Inkombank
ul. Varvarskaya, 32
603006 Nizhny Novgorod
Tel.: 011 7 (8312) 376-202 or
307-652
Fax: 011 7 (8312) 372-853

Nizhegorodsky Bankirsky Dom (small loans)
6 Gorkogo Square
603600 Nizhny Novgorod
Contact: Mr Andrei Morov
Tel.: 011 7 (8312) 343-983
Fax: 011 7 (8312) 343-948

Novosibirsk
Kuzbassotsbank (micro and small loans)
Pr. Lavrentyeva, 6a
630090 Novosibirsk
Contact: Evgeny Kovban
Tel.: 011 7 (3832) 324-989
Fax: 011 7 (3832) 322-350 or 322-352

St Petersburg
Bank Petrovsky (micro and small loans)
ul. Ruzovskaya, 8
198013 St. Petersburg
Contact: Semyon Sadovsky
Tel.: 011 7 (812) 292-5322
Fax: 011 7 (812) 316-4040

Mosbusinessbank (micro and small loans)
Pr. Metallistov, 115
195197 St Petersburg
Tel.: 011 7 (812) 540-9339
Tel./Fax: 011 7 (812) 311-8449

Promstroibank (small loans only)
Central Operating Branch 4
Contact: Vera Konstantinovna Kalinina
Tel.: 011 7 (812) 110-4901, or 110-4926

Admiraltiski Branch
Contact: Vladislav Germanovich Trofimov
Tel.: 011 7 (812) 311-1890, or 311-8212,
or 275-0461

Krasnogvardisky Branch
Contact: Ludmila Vasilievna Efimova
Tel.: 011 7 (812) 528-7528, or 227-2882

Samara
Sberbank (micro and small loans)
Lenin Av. , 2a
443002 Samara
Contact: Alexei Zborovsky
Tel.: 011 7 (8462) 386-902
Fax: 011 7 (8462) 386-286

Togliatti
Rosestbank (micro and small loans)
Komsomolskaya Street, 88
445703 Togliatti
Contact: Alexander Byelousov
Tel.: 011 7 (8469) 483-008 or 338-185
Fax: 011 7 (8469) 296-6596

Sberbank (small loans)
Yubileynaya Street, 25
445027 Togliatti
Contact: Natalya Onishuk
Tel.: 011 7 (8469) 341-538
 Fax: 011 7 (84690 341-481

Tomsk
Kuzbassotsbank (micro and small loans)
ul. Herzen, 18
634029 Tomsk
Contact: Nikolai Potapov
Tel.: 011 7 (3822) 233-304
Fax: 011 7 (3822) 232-552 or 231-186

Mosbusinessbank (micro and small loans)
ul. Lazareva, 3a
634040 Tomsk
Contact: Vladimir Gonchar
Tel.: 011 7 (3822) 768-571
Fax: 011 7 (3822) 786-576

Orbita Bank (micro loans)
Belinskogo St, 15
634029 Tomsk

Tula
Orbita Bank (micro loans)
54, Komsomolskaya
300002 Tula
Tel.: 011 7 (0872) 775-327

Mosbusinessbank (micro and small loans)
25 Krasnoarmeisky Pr
300341 Tula
Contact: Mr Shamayev
Tel./Fax: 011 7 (0872) 367-789

Sberbank (micro loans)
Mendeleevskaya Street, 1
300000 Tula
Tel.: 011 7 (0872) 364-515


This report is provided courtesy of the Business Information Service for the Newly Independent States (BISNIS)