Saint Petersburg Bank and AHR launch unique loan program

Saint Petersburg Bank and the Auction House of the Russian Federation (AHR) have signed an agreement on the realization of a unique loan program for acquiring various lots. The launch of the new program will give auction participants the opportunity to acquire property up for auction using loan funds. At the same time, the acquired property may be used as loan security.

The loan program includes financing expenses for acquisition of the lot, and acquisition with the further use of the purchased property.

Saint Petersburg Bank offers financing for acquiring various lots at auction: real-estate (residential and commercial objects, land plots), equipment, share packages.

The minimum sum of the loan is 10 million rubles. The loan security may be both acquired objects and other property. The loan term is established individually depending on the pay-back term of the financed project.

The sum of the loan in financing the acquisition of the lot is not more than 70% of the initial sum of the lot. The difference between the final sum of the acquired lot and the sum of the loan approved by the Bank is paid with the purchaser’s own funds.

The sum of the loan in financing the acquisition of the lot and the subsequent use of the purchased object is not more than 80% of the total cost of the investment project.

Alexander Saveliev, chairman of the board of Saint Petersburg Bank: “Today we are beginning a new stage of cooperation with the AHR, and for the first time in Russia we are offering auction participants a unique opportunity to acquire lots and property using loan funds of a reliable business partner. The program developed by the Bank is unique. The deadlines for examining applications for financing lots allow auction participants to receive a decision from the bank on a loan before the auction is held, and when they have familiarized themselves with the characteristics of the approved loan, to take a decision on submitting an application to take part in the loan, and make a deposit”.

Andrei Stepnanko, general director of the Auction House of the Russian Federation:
“We are very interested in realizing a joint project with Saint Petersburg Bank. A realiable seller of property, the AHR, guarantees that the deals will be spotless, and Saint Petersburg Bank will provide financial support for them.
“This alliance is advantageous to all the participants of the process. We will provide the Bank with new clients; practically all of AHR’s customers – and they now number over 42,000 – will become potential clients of Saint Petersburg Bank.
“Our clients receive reliable financial support for taking part in auctions. In the majority of cases, the issue of acquiring expensive assets, which applies to real-estate, directly depends on receiving loan funds.
“The Auction House of the Russian Federation will gain an increase in sales volume and attract new purchasers to the platform”.

Materials mass media:
Kommersant, 05.09.2012