An innovative bank is a commercial institution, the priority of which is lending to business representatives. Funds are issued for scientific and technical development, new products with high competitiveness.
An innovative bank is a financial institution engaged in long-term crediting of programs related to scientific research and development. The prospects of projects are determined by a special department of employees working at the bank. Thanks to the work of such institutions, the latest trends, technical and technological progress are being studied.
Features of cooperation with innovative banks
At the legislative level, such institutions are not separated into a separate type. Together with savings, mortgage, industry-specific, they belong to the lower level of the banking system. It is easier to get funds in such institutions:
- for the introduction of new products into the production sphere;
- increasing the capacity of the enterprise;
- production of highly efficient products.
You can also apply to such institutions to receive funds at interest for design development, development of new types of activity. The resources are the institution's own funds, customer deposits. Most often, contracts with clients are concluded for a long time. Representatives of small, medium and large businesses become clients.
Service users can use both programs developed by commercial banks and those that have government support. Some institutions take part in federal programs. This allows them to obtain resources for lending on concessional terms.
How to use the services of an innovative bank?
As in an ordinary institution, you will need to provide a package of documents. Additionally, we need proof of the prospects of the project being developed. Priority is given to those companies that can offer competitive products. It is desirable that it does not have analogues in the country and leads to the possibility of creating new jobs.
To prove that the project is promising, provide:
- the conclusion of the expert commission;
- patent;
- certificate of authorship.
A positive decision will also be made when providing calculations regarding the profitability of the project, plan.
Despite the fact that innovative banks specialize in lending, you can open a deposit in them. In some cases, it can be guaranteed. Deposits are often opened at high interest rates for individuals and legal entities. There may be restrictions on minimum terms and amounts.
When receiving large amounts of money, collateral may be required. They are both a surety and shares of the company. When setting the interest rate, objective risks affecting the development of innovations are taken into account. These include interest rate, market, innovation and liquidity risk.
Thus, an innovation bank is a type of commercial financial institution. Its resources are used to develop and implement innovations that optimize manufacturing, industrial and other areas. This is a great opportunity for businesses that are ready to bring a novelty to the market.
