Silk Road Bank AD Skopje and the Fund for Innovation and Technological Development signed a Memorandum of Cooperation, in order to facilitate and increase access to finance and banking products and services for the most innovative domestic companies.
Namely, the bank through the product package ''Bizz Up", created with the support of the European Union and the European Investment Fund through the EaSI guarantee scheme, enables financing of micro and small enterprises, companies in development and start-up companies. Various products and services are available to companies, such as account overruns, working capital loans and investment loans, with preferential lower interest rates than regular ones.
"I am glad that the initiative of FITD for increased cooperation with the banking sector in order to facilitate the applicants of the Fund, gave fast results and interest from the banks. In less than a month, Silk Road is the second bank through which we enable companies to receive new relief in securing finances for their own share in the application. We have a number of planned annual activities and I expect the new cooperation to contribute to an increased number of project proposals submitted to the FITD public calls" said Kosta Petrov, acting director of the Fund for Innovation and Technological Development.
Additionally, in support of these companies, Silk Road Bank offers numerous privileges for the applicant companies, as follows: no fee for maintaining a transaction denar account in the first three months, approval of overdraft without additional fees, free use of e-banking with the possibility of making payments for a period of one month, Visa business card without annual membership fee, lower commissions for payments in domestic payment operations, lower interest rates for Denar loans, as well as the possibility for credit cards from the American Express brand.
"After signing the agreement last year with the European Investment Fund on the basis of which we created the microfinance package Bizz Up, today we are pleased to sign the Memorandum of Cooperation with FITD for facilitated access to finance for innovative companies. By signing this Memorandum, we strengthen our support for micro and small enterprises, start-up companies and companies in the development phase by offering attractive banking products with an increased number of benefits and significantly lower costs than the regular ones. We are sure that in cooperation with FITD in the next period we will actively reach all innovative companies in the country that need funding and support to implement their business plans and ideas. Innovative projects are slowly becoming the driver of the Macedonian economy and development of society as a whole, and Silk Road Bank continues with intensified activities to support this type of companies, said Igor Dimitrov, President of the Management’s Board of Silk Road Bank.
In the next period, Silk Road Bank in cooperation with FITD will organize educational workshops and promotional activities for the financing opportunities of the companies offered by theBizz Up“. This will provide easier access to finance, maximum use of the potential of the best innovations in our country, increased presence of innovative projects in the business sector and conquering foreign markets by domestic companies. More information about the package can be seen at the following link.