February 6 (SeeNews) - Italian banking group UniCredit said that it will start providing pre-approved loans in support of small businesses in seven countries in Central and Eastern Europe, including Bulgaria, Croatia, Romania and Serbia.
Companies with a turnover of up to one million euro ($1.07 million) will be eligible for the fast-tracked loans, which will be personalised and will require no additional collateral, UniCredit said in a statement last week. The financing will also be offered to businesses in the Czech Republic, Slovakia and Hungary.
The amounts and terms of the loans will vary so as to meet specific needs in any given country, but clients will benefit from an accelerated approval process thanks to automated processes.
"This pre-approved loan programme is a prime example of how we are able to create value for our customers by utilizing the strengths of our international network and a clear risk framework," Gianfranco Bisagni and Teodora Petkova, UniCredit's respective CEOs for Central Europe and Eastern Europe, said in the statement.
($ = 0.9286 euro)