Romanian Banca Transilvania gets EUR 100 mln funds for small, medium firms

Local lender Banca Transilvania and the European Investment Fund (EIF) have concluded a guarantee agreement based on which the Romanian bank will grant total loans of up to EUR 100 million to local small and medium-sized companies (SMEs). The guaranteed transactions benefit from the European Union’s support through the SME Initiative, a joint financial instrument of the European Commission, the European Investment Bank and the European Investment Fund. Small and medium-sized firms are companies with a turnover of up to EUR 50 million or total assets of maximum EUR 43 million and up to 250 employees. The loans are granted both in Romanian currency lei and euro. The guarantee that a SME receives is 60% of the loan amount. The minimum credit period is 2 years whereas the maximum period is 12 years. anca Transilvania has granted 5,500 loans worth EUR 250 million so far to SMEs through partnerships with the European Investment Bank and the European Investment Fund. Romanian lender Banca Transilvania ups net profit by 8% in the first half editor@romania-insider.com