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Tinkoff Bank launches loans to SMEs

TCS Group Holding PLC (TCS LI), a Russian digital provider of financial and lifestyle products and services, announces that its Tinkoff Business unit is expanding the range of services it offers to small and medium-sized businesses and launching loans for companies and entrepreneurs.

Since its launch in 2016, Tinkoff Business has built a highly successful SME ecosystem with attractive tariff plans, a full range of services for cash and settlement management, accounting, payroll projects, trade acquiring, Internet Acquiring, POS-crediting and bank guarantees for participants in public procurement. Now, Tinkoff Business will also offer three types of loans to SME customers: all-purpose loans, overdraft and revolving credit.

These SME lending services will take advantage of Tinkoff Bank’s award-winning mobile application and website, giving Russian entrepreneurs access to fast loans with just a couple of clicks within their personal account – and no additional conditions.

Fedor Bukharov, head of Tinkoff Business, commented: “Tinkoff Business is one of the largest drivers of the Group’s fee-and-commissions revenue, and is growing by over 90 thousand new customers per quarter. The launch of lending to SMEs is the next big step in scaling up our SME business line. We understand the needs of our customers and aim to give them a full range of services to help them quickly resolve key business issues.”

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