Goodbee Credit doubles value of loans in Romania, agriculture loans cover bulk

Goodbee Credit IFN’s loans value doubled in the first half of 2011 compared with the same period last year, while the number of contracts increased almost four times, according to the company.

Thus, the volume of microfinance almost reached EUR 4.5 million, with EUR 1.7 million more than the same period in 2010, and the number of contracts stood at 1,800 on June 30 this year, from 485 contracts reported in the first half of last year. In case the monthly growth reported in the first half will be maintained, the company expects end 2011 with 3,500 contracts. The company reported a loan portfolio of EUR 11.75 million after the first six months of 2011. In terms of portfolio structure, agriculture continues to hold the largest share, with 1,721 of loans, namely 96 percent from the total of 1,800, followed by trade, services and production. The company plans to open another two territorial offices in Romania in Brasov and Bistrita-Nasaud. Goodbee Credit IFN was founded in 2008 through a partnership between the Foundation Center for Economic Development (FDCE) and Goodbee Holding. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)