Penza, 1 September 2014. PenzaNews. Corporate clients of JSC Russian Agricultural Bank, including those acting in the Penza region, are now able to take loans for the purchasing commercial real estate on the security of the latter.

As the press service of Penza regional branch of Russian Agricultural Bank told news agency “PenzaNews,” business mortgage can be issued for legal entities and individual entrepreneurs engaged in wholesale, retail, leasing of commercial real estate, service organizations and other entities.

“Bank loan in the amount of 10 million and up to 200 million rubles is granted for a period of 8 years at an interest rate of 11.5% per annum. The minimum amount of equity participation is 20%. Pledge of the acquired property can be the only collateral for the loan. Conditions of the service calls for deferred payment of principal for up to 12 months,” the press service of the financial institution explained.

The bank representative noted that commercial mortgage allows purchasing non-residential buildings on a leased or owned area, insurance of which is not mandatory.