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Russian Borrowers

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In the Russian market a new financial plan that allows low-income citizens obtain loans without leaving home. Company 'CreditVision Group' hopes to attract customers who are not available bank loans. About the beginning of the active expansion of the new for the Russian market of the financial project 'b' said the chairman of the Board of Directors Center microfinance 'CreditVision Group' Anatoly Volkov. Until recently, the company's activities confined to Moscow, where tested a pilot project. In early October, 'CreditVision Group' started offering its services in the Moscow region. To date, issued a little over 5 thousand loans. The plans – the Russian expansion. Microloans are issued to citizens at home.

Person interested advertising (located mostly on the Internet, regional press, through leaflets in crowded places, advertisements on the front door, etc.), call company and makes a request. The amount of loans that are issued for a period of 6 to 24 months, from 10 thousand to 100 thousand rubles. The company does not hide the fact that as a potential audience counting on people with incomes below the average, are often not formally confirmed without a credit history, largely without higher education. Until now, these schemes work in Russia were not available. Existing centers in Russia microfinance loans to in their offices After the screening of borrowers. Of bank lending scheme 'CreditVision Group' is not only a place of issuance of the loan, less the amount of loans and virtually no scrutiny of the borrower, but also significantly less expensive.

Since the loan is issued, and not a loan, a banking license is not required. As a consequence, there is no requirement to establish reserve requirements, compliance with regulations, availability of special equipment, staff development, etc. A delivery and collection of loans under the scheme of network marketing eliminates the need bear the costs of creating a regional network. According to Anatoly Volkov, Russia's new scheme of work in the financial market, it has borrowed in the West. For example, running a British company Provident. Interviewees 'b' of the banking market participants indicate that, despite the well chosen moment to start a new project (when banks are cutting lending to all segments, increased rates and requirements for borrowers), it carries great risks for the creators. As the main experts call the risk of defaults. 'Experience in Retail Banking has shown that No other measurements, except for scoring effectively in Russia is not, – said deputy president of the 'Russian Standard' Eugene Tutkevich .- As the scale of the project it can become uncontrollable, and the amount of defaults can exceed revenues. " In his opinion, further defaults will be promoted the dissemination of information from existing borrowers lack of proper quality control of the borrower.

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