Sber’s online loans for small businesses now available on weekend too

Apr 09, 2021

Sber has made loans available to small businesses online on weekends and holidays. General purpose loans up to RUB 5 mn with no collateral or guarantors can be taken out 24/7 by sole proprietors or limited liability companies with one owner (general director) via the SberBusiness corporate app or website.

Loans used to take over four hours to approve and take out. If you applied for a loan on Saturday or Sunday, you only had the money credited on Monday. Now, the lending procedure takes from two minutes after approval, no matter whether it’s a weekday or the weekend.

When we launched online lending we saw that businesses often apply for loans after working hours to not be distracted from their main operations. These days, we get as many applications on weekends as we do on weekdays. Naturally, it would be wrong to make a customer wait for the money until Monday, so we removed manual labor from the granting of loans, thus cutting to a few minutes the time you need to get money.

Alexey Shashkin

Director of Small and Micro-Sized Business, Sberbank

Sber was the first to market corporate online lending via mobile app in March 2021, and now the service is available to some 600,000 entrepreneurs throughout Russia.