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Access to Credit
FACILITATING ACCESS TO CREDIT TO SMES, COOPERATIVES Access to capital for private business sector, small and medium enterprises, cooperatives and entrepreneurs, is one of the major problems limiting their growth throughout Serbia. Although confidence in the banking system is now being restored from the very low levels of just few years ago, it will take time to restore public confidence in commercial banks for deposits and loans. Unfortunately, SMEs, cooperatives and individual entrepreneurs lack experience and relationships with banks and understanding of bank loan application requirements and procedures. Perceiving the need for information on available credits, ADF/CRDA program organizes a series of bank presentations i.e. Credit Fairs to increase access to credit in ADF/CRDA municipalities in Vojvodina and Eastern Serbia. The presentations by ten leading banks in Serbia as well as by development funds that include descriptions of credit lines, conditions, and application procedures are followed by one-on-one meetings between the banks and/or business advisory providers and potential SME, cooperative and individual entrepreneur clients. Such events also enable banks to have a larger outreach and expand and improve business relationships. This is a “win-win” situation for all the parties involved. ADF/CRDA municipalities through municipal entrepreneurs associations, development agencies, chambers of commerce and other stakeholders are mobilized. Municipal economic departments are provided with an opportunity to present Local Economic Development (LED) i.e. municipal economic development strategies and plans whereby they address the private business sector representatives and additionally initiate and improve public-private partnership. Cumulative as of May 30, 2006, 1,892 private business representatives participated so far at Credit Fairs, with 291 credits approved and distributed totaling $4,369,997. Including the Access to Credit Municipal Bank Fairs, the ADF/CRDA program has recorded the total of 914 loans totaling $18,186,247 as the result of ADF/CRDA finance facilitation activities.
Please
see attached the most recent bank presentations:
Kulska banka
Novosadska banka
Vojvodjanska banka
Komercijalna banka
ProCredit Bank
Opportunity International
Delta banka
Nacionalna štedionica - banka
a.d.
Raiffeisen BANK
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