Banca Transilvania funds over 1,000 small businesses in Romania

Banca Transilvania, one of Romania's leading banking institutions, has funded over 1,000 businesses nationwide through its InvestEU program in four months.

Brokered by the European Investment Fund (EIF) through BT Microfinanțare (BT Mic), in just four months, the program has helped businesses in almost 200 fields in over 500 localities in Romania. Almost 20% of those are start-ups with less than a year of activity.

"We are glad that we reached more than 1,000 entrepreneurs in such a short time. We continue in the same direction to facilitate access to financing for as many businesses that are at the beginning of the journey", says Cristina Sindile, BT Mic CEO.

BT Microfinanțare is part of the Banca Transilvania Financial Group and is aimed at companies with an annual turnover of up to RON 1 million from all fields of activity, where over 70% of customers took out their first business loan through it. To date, the company has helped more than 23,000 small businesses grow.

The process of obtaining it is as easy as an online procedure and accessible for both BT and non-BT customers. Should the paperwork is complete, which includes the legal document of the company's establishment and the monthly balance sheet of the business, the process takes up at least three to four days

(Photo source: Banca Transilvania)