MB Provides Superfast Car Loans to SMEs

9:53:46 AM | 7/24/2014

Military Commercial Joint Stock Bank (MB) has announced to provide a superfast car loans to small and medium enterprises (SMEs). The time for handling borrowing procedures is 10 hours, starting from the time of receipt of full loan applications from customers. With this programme, MB is one of the fastest car-loan providers.
 
The superfast lending programme will meet capital needs for customers to buy upmarket, midmarket and downmarket automobiles for their operations and the loans are guaranteed by security assets of borrowers. Therefore, apart from conventional collaterals originated from the mortgage of assets purchased from the loans, customers can offer their options by collateralising other assets like real estate or other valuable papers. Besides, the loan maturity is five years and the loan value may reach 85 percent of the mortgaged assets originated from the loans and up to 100 percent if customers added other collaterals.
 
Currently, the program is applicable to businesses operating for more than year and suffering no losses and overdue debts at MB and other credit institutions in the latest fiscal year.
 
Thu Thuy