The Bank of Moscow announced last week that its Rostov branch has granted a $14 million loan to the Asian Tire Union Group of Companies.
The three-year loan will be used to finance working capital, according to a press release from the bank.
The Asian Tire Union Group of Companies has been operating in Russia since 1994 as a wholesaler of tires and wheels for cars, trucks and agricultural and construction equipment. An authorized dealer of SCANIA in Rostov, it is also an official distributor of brands such as Annaite, Constancy, Fenglun and Comforser.
"The Bank of Moscow has gained considerable experience working with commerce companies," Yevgeniy Monin, the director of the corporate sales management department of the Bank of Moscow, said. "Our main advantage is that we clearly understand the needs of companies in this sector and can provide them with both financing and other banking services on favorable terms and in optimal time.
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