Latest banking products for SMEs introduced at World Franchise Forum - World Franchise Conference

Latest banking products for SMEs introduced at World Franchise Forum

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The ‘Innovations in Financial Services. Banking Products for Franchising’ panel session that took place as part of day two of the World Franchise Forum business programme discussed products geared to small and medium businesses.

Panelists, which included Ernesto Gonzalez, Senior Vice President, Development, Rosinter Restaurants Holding, Ekaterina Malandiy, Head, Small Business Development and Sales Department, Uralsib Bank, Aleksey Grishenko, Head of  Innovation Laboratory Delovaya Sreda (Sberbank) and Dmitry Golovanov, Chairman of the Management Board, Member of the Supervisory Committee, MSP Bank, noted that all entrepreneurs are facing financial challenges amid an economic crisis and the banking system should design various products to support small and medium businesses, including franchises. For instance, Rosinter Restaurants Holding has joined efforts with Uralsib Bank to set up a special program to finance franchisees interested in opening a restaurant. Not only that, but when Rosinter approves a candidate and signs an agreement, Uralsib may approve a loan even before the franchisee incorporates a legal entity, which substantially simplifies and speeds up the process of starting a business.

MSP Bank is offering a no less exciting set of financial instruments. It has developed a large mix of credit products for entrepreneurs to pick and choose the options that suit their business best. “MSP Bank acts as a guarantor of discharge by SMEs of their loan obligations by offering direct guarantees on their behalf for plant and equipment acquisition, financing current operations or performance of contracts under federal laws No. 44-FZ and No. 223-FZ,” Dmitry Golovanov said. He added that his bank had an objective of providing comprehensive support to Russian entrepreneurs and involving as many people as possible in small enterprise. Franchise is an excellent means for ‘soft’ entry into doing business.

Dmitry Golovanov also introduced the SME Business Navigator. “It is a free web portal offered by our company to those who wish to start or expand a business, work honestly and legally, and make money for their own future and the future of their children,” Dmitry Golovanov said. The website offers guidance on how to start a business in a particular city, more than 300 standard business plans derived from actual practices of 5,000 Russian companies, and access to contacts of financial institutions that support entrepreneurs.

“We have brought together all government and municipal entities that support small and medium businesses in your community in a single data base. The Business Navigator also provides access to procurement plans of all major state-owned companies. Information on the plans of more than 200 major customers is updated in the system on a weekly basis,” Dmitry Golovanov added.

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