RO jewelry producer gets EUR 2.6 mln loans from Raiffeisen with state guarantees

Romanian jewelry company Teilor has contracted two loans from Raiffeisen Bank worth EUR 2.6 mln in total.

The loans will be 90% guaranteed by the state through the state-owned lender Eximbank, under the scheme to support local companies impacted by the COVID-19 pandemic.

The first loan, worth EUR 1.6 mln, is for working capital and the other one, worth RON 5 mln (over EUR 1 mln) is for investments.

Teilor is a Romanian family business that started on Teilor Street in Pitesti and has reached a network of 50 stores in Romania. The brand has also expanded abroad in Poland and Bulgaria.

In 2019, Teilor recorded a turnover of RON 160 mln (EUR 33 mln), up by 30% compared to 2018.

(Photo source: the company)