Банковское дело

– Demand for loans.

– Change of requirement of public sector in borrowed funds.

– Exchange rate of currencies. When an interest rate abroad and rates on investments in foreign currency are high, a rate on investments in national currency have to be also high in order to avoid a capital modulation abroad and considerable falling of a rate of national currency.

Percent for the credit – the price for credit resources. Can be charged both simple, and difficult percent.

1.4  Mortgage providing when crediting subjects of small business

Crediting of small firms is considerably slowed down by uncertainty in a question of mortgage providing. Earlier Russian banks as pledge considered option even goods in a turn, but now when the risk increases to remain with goods in the leased territory, the credit organizations become more careful.

The analysis of financing of small business shows that very painful subject in this question also is the real estate. The majority of credit institutions call it in the list prime a pledge subject, but they not too show consideration for the analysis of mortgage real estate.

The matter is that now approach during the work with offered clients real estate objects differs a surface. Banks neglect and even ignore field and careful cameral checks. (to replace similar)

On the vast majority of the mortgage loans granted for business, the staff of bank doesn't find time to leave into place. And if leave, check only existence of the called object.

However in some part of obligatory requirements banks are yet ready to make concessions. In particular, still obligatory for small enterprises there is a condition of providing pledge. As a rule, providing on the credit is any kind of liquid property are there can be a trade and production equipment, motor transport, equipment, goods in a turn, personal property of the owner of business, the guarantee of financially well-founded enterprises, securities. Besides, as providing on the credit can serve and real estate, especially in those cases if it is a question of receiving the large sums. So, for example, owners of shops, cafe, auto repair shops, beauty shops and other institutions can quite count on receiving loans on the security of the rooms - warehouses or offices. For this purpose together with the demand for receiving the credit the businessman has to submit the corresponding documentation in which it has to be specified to bank that rooms are its property. There are also exit checks of a creditopoluchatel: the loan officer visits the enterprise for a business process assessment, and at the same time and the property offered as pledge.

Some banks when crediting on the security of real estate even are ready to provide more favorable conditions on loans.

At the same time, according to in Vneshtorgbank, financial institutions not so willingly consider real estate as it is difficult to issue it as pledge (it is necessary to present a huge number of documents), and subsequently and to realize while the credits to small business most often aren't long-term and are given for the small sums. "Time of registration of pledge of real estate from the moment of collecting a full package of documents before final registration of the contract extends. Across Moscow this term can make of 30 days and more", - the head of department of microcredit of Moskomprivatbank Sergey Timofeev explains. And the point isn't that bankers slowly work, simply they can't influence registration and document registration speed in government bodies (in Moscow Moskomregistration is engaged in it). Meanwhile for the borrower the credit in a month can be already irrelevant." At the same time and for banks the rule works: the more long on terms the issuance of credit is removed, the risks on its return" more increase, - Sergey Timofeev adds. Therefore some banks are ready to make out real estate only as additional providing on the credits. The head of department of crediting of the Moscow credit bank Alfy Shaymyardyanova specifies that often at registration as proof of real estate registration and pledge of the earth, especially is necessary if it is a question of the first floors of buildings. It is problematic as the earth generally is on a leasehold basis, and other government body has to give a consent to pledge already. Besides, registration of pledge demands transaction registration from the notary which cost of services makes to 1,5% from mortgage that is rather powerful for a pocket of the "small" borrower. All this frightens off from such type of crediting of businessmen.

Bankers are sure that development and acceptance of certain legislative norms are extremely necessary for simplification of procedure of financing of small business. According to Sergey Timofeev from Moskomprivatbank, the legislative base which would allow banks bravely in short terms is necessary to consider and make out as a deposit as objects of inhabited sector, and commercial real estate. Alfiya Shaymyardyanova explains: first of all it is necessary to simplify and facilitate procedure of registration of pledge in registration bodies that it took no more than a week.

It is necessary to introduce the program of information support of businessmen which would explain advantage of crediting in banks including on the security of real estate at the level of the state. "Unfortunately, not all know that such pledge, and are afraid to lose it, especially real estate: it often is the only liquid property of businessmen", - Alfiya Shaymyardyanova explains, - "therefore it is necessary to increase culture of borrowers. They have to understand: at registration as proof of real estate the bank doesn't become the owner of rooms. Pledge is an additional tool for decrease in credit risks which can be put in action only at violation of the contractual obligation for repayment of the loan and only according to legislative norms"

Today to return pledge through court rather difficult, on it a lot of time and means leaves. Besides there is no adequate mortgage legislation and infrastructure of realization of pledges. If to follow existing regulations, pledge is, as a rule, realized no more than for a half of its valid cost. Sale of pledge is carried out through system of tenders, and its price considerably falls because of the bad organization of the auction. Therefore creditor banks demand from potential borrowers of 200% of mortgage providing the credit that not in power to many small enterprises.

1.5 The guarantee as a way of providing obligations for the credit as pledge

Main objective of use by banks of various ways of providing performance of obligations according to the credit agreement is minimization of possible losses of bank in case of non-performance by the borrower of the obligations under the contract. One of such ways is the guarantee.

The essence of the guarantee is that the guarantor undertakes to be responsible before the creditor of other person for execution by this person of obligations completely or partially.

The guarantee increases probability of return of a debt as in case of violation by the debtor of the obligations the creditor can make the demands to the guarantor for the creditor. The contract of guarantee is signed in writing, and its non-compliance involves invalidity of the contract.

In case of non-execution or inadequate performance of obligations the guarantor and the debtor answer before bank solidary, that is the creditor (bank) can claim a debt not only from all debtors in common, but also from any of them separately, as completely, and regarding a debt. That is the guarantor answers before the creditor in the same volume, as the debtor, including payment of percent, compensation of a legal cost on collection of debt and other losses of the creditor. It occurs if the contract of guarantee doesn't provide any other conditions. As for partial responsibility, for example, the situation when the guarantor undertakes to compensate only a principal debt without payment of a penalty or the sum of percent for using loan money over an established period is possible. Thus, the instruction in the contract for vicarious liability for return of a debt and payment of percent should be considered as vicarious liability restriction only these sums.

In case of prolongation of period of validity of the contract, change of conditions which attract increase in responsibility or adverse effects for the guarantor, and also at transfer of a debt to other debtor, it is necessary to receive previously a consent of the guarantor to change of the corresponding terms of the contract of the guarantee.

Who can act as the guarantor?

The main demands made to guarantors, the following is:  as the guarantor the person of dopensionny age having stable earnings, documented (and also other property for performance of obligations), not made responsible has to support the financial crimes, having continuous registration in the territory of the Russian Federation etc.

Banks have usually a positive attitude towards guarantors relatives or the management of the company in which the potential creditopoluchatel works.

Anyway, the creditor bank will claim from guarantors the same volume of information, as from the borrower.  All data are fixed in the separate questionnaire and certified by the personal signature of the guarantor.

Rights of the guarantor.

First, to the guarantor who fulfilled the obligation, pass the rights of the creditor according to this obligation.  The rights to collection of debt from the borrower pass at a rate of the obligation fulfilled by the guarantor and are made out, as a rule, by the contract on a requirement concession.

Secondly, the guarantor has the right to demand from the debtor of payment of percent for the sum which that paid to the creditor, and compensation of other losses suffered in connection with responsibility on obligations of the debtor.

Thirdly, the guarantor has the right to receive all documents certifying the requirement to the debtor, and all rights providing this requirement from the creditor.  For presentation to the debtor of requirements about return of means (probably, through court), it is necessary to have the contract about requirement concessions, the contract of guarantee, payment documents on payment of requirements of bank, the copy of the credit agreement, etc.

Before to assume duties of the guarantor, you need to calculate carefully all expenses on the credit and to compare with real possibility of their repayment:  whether there is a credit nonpayment by the debtor by threat for welfare and wellbeing you and your family?

Remember that, acting as the guarantor, you limit yourselves in opportunity to take the credit:  the bank will surely take an interest, whether there are at you credits unpaid finally and whether are you a guarantor on any business deal.

You shouldn't forget and that non-execution of obligations for the credit affects negatively not only credit history of the debtor, but also credit history of the person acting as the guarantor that also can cause further difficulties when receiving the credit.

Financing of small business in the next years becomes one of the most fast-growing segments of the market of banking services. Work with small business opens opportunity significantly to increase volumes of active and passive operations for banks. It is especially actual for large banks which face decrease in demand for the credits from the large corporate borrowers who have had an opportunity to be credited under lower interest in the western markets of the capital, and also for the regional credit organizations which experience the increasing competition from outside the "capital" banks which are carrying out regional expansion.

Small business is an integral part of market economy. For it special mobility, flexibility and high efficiency is characteristic. Small enterprises can be created in any sector of the housekeeper in reply to unsatisfied needs of the population. These and other advantages of small business serve as stimulators for development of national economy and therefore the state is obliged to give essential support to development of small business. At shortage of money on financing heads of small business enterprises address in commercial banks with the demand for the credit. The problem of financing of small and medium business in our country remains unresolved throughout the long period of time. It should be noted some contradiction: on the one hand businessmen need money, and banks are ready to provide them to them, and on the other hand, according to polls which have been carried out among representatives of small business only about 12% of businessmen regularly possess the bank credits.

As a whole the provision of the environment of financing of small business in Russia leaves much to be desired. The state doesn't undertake serious measures for support of beginning businessmen, and bank conditions can be considered at all "draconian". Against great demand, in the crediting market, great popularity "the shadow sector" has crediting.

Chapter 2. Рledge providing credit

2.1 Pluses and minuses of mortgage providing the bank credit for the organizations of small business

Today for successful development of small business the problem of fast access to credit resources of banks has great value. But the main obstacle which businessmen – lack of the liquid property necessary for providing the bank credits face.

For example, Unikod Ltd - the specialized company on design, production and delivery of industrial refrigerating appliances, ventilation and conditioning systems. In the list of long-term goals - expansion of the range of production and opening of 4 new branches of shops on which the bank credit was required. The Unikod Ltd company is the private family business, registered in the form of limited liability company. Founders of the company are the father and the son: Ivanov Peter Nikolaevich and Ivanov Valery Petrovitch with equal individual share. Finansiroaniye is carried out by Unikod Ltd at the expense of personal means of founders. Further all financial investments were made at the expense of company profit. At the moment external financing of 7 000 000 000 rub for start of 4 branches that will allow to expand a sales market of production of the company significantly is required.

So, it is necessary for the Unikod Ltd company of 7 million rubles on business development which it intended to take on credit. And not high rates, namely mortgage providing appear the main difficulty on a way of receiving the credit actually.

The management of the company considers that it is necessary to be aware of the main requirements of banks to mortgage providing the credits as it directly influences the cost both the maximum sum of the credit and percent.

It became clear that mortgage providing for banks are:

•   real estate — inhabited and commercial;

•  special equipment;

•   vehicles.

On representation of banks is the most liquid property, and it prefer to see as a part of mortgage providing the credits.

Having studied rules of granting the credits in other banks, it appeared that many demand from the businessman providing the guarantee of the third parties. In case the owner of the company is registered as SP, the guarantee of the spouse or the spouse obligatory.

Advantages of mortgage providing the credit to businessmen become:

•  Minimum rate.

•  The simplified procedure of registration (in fact, it a little than differs from process of receiving the usual mortgage consumer credit).

•  The maximum sum (the bank will give out to you to 80% from the cost of housing or the personal estate pledged).

•  Speed of registration.

•  Inappropriate mission of the loan. Quite often financial help to small business is that banks give out the credits directed on purchase of the equipment, repair of floor spaces, etc. – that is on strictly established purposes. The businessman has no right to redistribute tranches and to direct, for example, part of means not on production purchase, and on vehicle fleet expansion. The credits which are given to "beginners" according to inappropriate programs, give them free rain.

However in mortgage providing there are also "weak" places for businessmen. Any property exposed by founders as providing on the credit, has to undergo two compulsory procedures:

•  insurance of a subject of providing upon risk of damage and loss

•  procedure of an assessment of mortgage property;

And here some nuances which aren't absolutely favorable to the company are investigated.

1)  the bank demands to carry out an assessment of mortgage property only in the estimated companies with which cooperates long ago. In practice it becomes clear that the cost of mortgage property of the company is underestimated.

2)   The size of the credit makes only 70% from the cost of mortgage property and if as mortgage property the goods — 50% act.  That is the bank insures itself against risk not repayment of the loan.

3)  At insurance the borrower has the right to choose insurance company independently. But banks at insurance of mortgage property, demand from the borrower of insurance of property on all period of validity of the credit agreement and on all cost.

As a result it turns out that insurance of pledge and an assessment only increase the credit cost as according to mortgage property and expenses on insurance the businessman will pay all expenses from own means, and considering that the cost of the services connected with an assessment and insurance of mortgage property, often becomes attached to the cost of the property, it is possible to tell that the rate of percent on the credit as a result will make 2%-3% more than a rate which the bank offers in the crediting contract taking into account the commission for issuance of credit and expenses on maintaining the credit account.

The situation which founders of Unikod Ltd, decided to use services of banks for financing of the small business faced, is that the real cost of the credit consists not only of a rate of percent on the credit, but includes the commission for issuance of credit, expenses on maintaining the loan account, and also expenses on an assessment and insurance of the credit of property put in providing.

2.2 Types of mortgage providing in credit programs various banks / Comparison of different types of providing on the credit

Today there is a huge number of banks, and not less huge number of the credit programs provided by them to the organizations of small business.

Despite it, the majority of businessmen still are interested in the oldest bank working in this direction. The Savings Bank gives out the credits to small business some years, and in recent years credit conditions became much softer also the priyemlemy. Let's notice that for today in Sberbank nearly a quarter of all small enterprises of our country is served.

More than 100 million individuals and about 1 million enterprises use services of Sberbank. The bank has the most extensive branch network in Russia: more than 18 thousand offices and internal structural divisions. The foreign network of Bank consists of subsidiary banks, branches and representations in 20 countries, including in CIS countries, the Central and Eastern Europe and Turkey.

For receiving the credit the enterprise has to correspond to the following criteria:

-  experience of officially registered enterprise of 6 months

-  total annual turnover (including assets) no more than 150.000.000 rubles

Credit conditions of small business in Sberbank today:

-  demand consideration – 8 days

-  credit term – no more than 3 years

-  the credit sum – isn't limited

-  the mortgage credit – 25% from the credit sum

-  possibility of the credit without pledge – yes (term no more than 18 months).

Indisputable advantages when crediting in Sberbank it is possible to carry the minimum package of starting documents, delivery of all sum of the credit or its part cash, a variety of forms and ways of repayment of the credit, an individual approach to each client.

As a rule, the credit for small business has to be repaid by equal shares. It is provided in the contract. However it is possible to revise terms of the contract in an individual order with the manager. It is very convenient if, for example, again opened branches Unikod Ltd begin to make notable profit, and founders will decide to extinguish all sum of the credit at once. Or, on the contrary, on a case of emergence of certain difficulties in business will be possible for some time to suspend payments on the credit.

The necessary package of documents in Sberbank is insignificant:

-  The statement in any form for receiving the credit, handwritten, with the indication of the purpose of the credit, the sum, term, the list of property which will be pledged, the legal address of the company

-   Constituent and registration documents on the company

-  Financial documents (the balance sheet and the profit and loss report on 5 reporting, the tax declaration and the cash-book for 4 tax periods), documents on providing the credit.

During demand consideration the Sberbank will study credit history of the organization in other establishments (including, probably, and receiving the consumer credits of founders as individuals).

For the purpose of a minimizirovaniye of expenses of time the simplified form of crediting allowing most precisely to define a financial condition of the borrower and quickly to issue the credit with the minimum expenses of time and means is developed for representatives of small business in receiving the credit by Sberbank. The maximum term of consideration of a question of granting the credit of only 7 working days from the moment of receiving by the loan officer of a full package of documents.

The Sberbank of Russia always paid much attention to existence of property providing on the credit.  Its ruler is quite various:  it is real estate, the equipment, vehicles.  Besides, acceptance as proof of property of the third parties is possible.

Small enterprises and businessmen who receive proceeds of credit within credit products of "Business Car", "State order", "Privatization for small business" and "Commercial real estate", as pledge can issue property acquired at the expense of proceeds of credit.

The Sberbank of Russia adheres to flexible policy regarding requirements to types of mortgage property.  For example, if the enterprise works not less than 24 months and has no opportunity to provide any pledge, the Bank can give out credit money without providing.  But the sum of such unsecured credit can't exceed 1 million rubles.