Micro-lender owned by US NGO sells bonds to finance activity in Romania

Vitas Romania, a non-banking financial institution (IFN) that specializes in micro-loans for local startups, will issue RON 15 million (EUR 3.2 million) worth of bonds to finance its activity, local Profit.ro reported. The company was founded in 2006 and reached revenues of RON 13.4 million (EUR 2.9 million) and a net profit of RON 2.56 million (EUR 560,000) in 2017. Since starting its local operations, Vitas has granted some 20,000 loans to about 10,000 local micro-enterprises. The company is part of Vitas Group, an international network of micro-lenders controlled by Global Communities, an international non-profit organization based in US. editor@romania-insider.com