On February 17th, 2010, Basisbank’s new product presentation ceremony was held at the Business Center “Event Club”, questions asked by the journalists attending the presentation ceremony were answered by the Director of the Bank Mr. Levan Gardapkhadze.
According to Mr. Levan Gardapkhadze one of the advantages of the product is that loan shall be given not only for the purposes to finance already existing well-established enterprises, but it also will provide loans to new and start up businesses. Generally, the management of Basisbank considers supporting a local industry as a critical priority, since the management believes that development of the local industry will further contribute to the growth and development of the country’s economy. “Useful Business Loan” is designed to finance small and medium business, maximum loan amount – GEL 500 000, interest rate raging from 16%, maximum period of loan – 10 years.
It shall be noted that by the end of 2009 Basisbank has successfully ended negotiations with OPIC (The Overseas Private Investment Corporation) as a result of which USD 5 million credit line agreement has been signed for the purposes to finance SME loans within Georgia.