SME Corporation and SME Bank Supported Expansion of Auto Repair Center in Magnitogorsk

SME Bank, a subsidiary bank of the SME Corporation, opened a credit line for Avangard in Magnitogorsk in the amount of 20 million rubles to expand its car servicing business. Financing was provided under the Program of the Ministry of Economic Development of Russia with a guarantee of the SME Corporation in the amount of 10 million rubles as security for the loan. The program was developed jointly by the Ministry of Economic Development of Russia, the Bank of Russia and the SME Corporation. The company will allocate funds for the purchase of equipment. This was reported to “Lente.ru” in the press service of the corporation.

“The implementation of the investment project will increase the efficiency of workplaces through the introduction of new equipment, reduce the cost of servicing outdated equipment, reduce the terms of customer service, increasing the quality of service. At the same time, we are opening a new direction – placing cars in a 24-hour parking lot. Additionally, we will develop related businesses “, – said the director of the Avangard company Rosalia Shakirova.

The head of the company also noted that the company plans to build a parking lot for 450 cars with round-the-clock operation. Additionally, the company intends to increase the range of a store selling spare parts and consumables, build a center for the sale of used cars, expand vehicle insurance and lending services. A cafe operating on the territory of the complex is also planned to be developed.

“Financial support and development of projects of SMEs in single-industry towns is in the focus of close attention of the SME Corporation and is included in the priority niches of SME Bank. A wide range of support measures makes it possible to ensure the sustainable development of small and medium-sized enterprises in localities and create new ones, not only maintain, but also increase the number of jobs and increase the level of tax payments to regional budgets “, – said Alexander Isaevich, General Director of the SME Corporation.

The Avangard company was founded in April 2016. The company provides car service and car wash services. On average, about 1,500 clients (legal entities and individuals) use the services of a car service and a car wash every month.

You can find out how to get warranty support within the framework of the National Guarantee System on the official website of the SME Corporation JSC.

The main measures of financial support for SMEs are presented in a presentation on the corporation’s website.

/Media reports.