Raiffeisen Bank Romania launched on January 28 the third edition of its factory by Raiffeisen Bank program aimed at financing local startups.
The bank aims to finance over 100 projects this year with up to EUR 50,000. The financing consists of preferential loans for a period of up to 60 months.
The startups selected for financing will pay an interest rate of 3% over the 1-month interbank rate (ROBOR – currently some 3%) for investment loans – namely some 6% per year - and 4% over ROBOR for working capital loans – 7% per year. The interest rates are lower than those paid by many small and medium companies in Romania. Moreover, half of the loan is guaranteed by the European Investment Fund (EIF).
The program’s budget for this year is EUR 5 million. In the previous two editions, Raiffeisen Bank financed over 100 projects with a total of EUR 4 million.
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