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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian SMEs applied for EUR 7 bln of Govt.-guaranteed loans in 2020-2021

The Romanian small and medium enterprises signed last year 25,586 loan contracts under the Government-backed scheme IMM Invest, worth a total of RON 14.2 bln (nearly EUR 3 bln). In the first five months of 2021, they submitted requests for some 17,000 loans worth RON 20.3 bln (over EUR 4 bln).

Out of the loans requested this year, 13,967 worth RON 16 bln are under the same scheme IMM Invest, and another 2,849 loans worth RON 4.3 bln are submitted under the new scheme dedicated to farmers AGRO, Ziarul Financiar reported.

Under the schemas, the Government subsidises the managing fee and the risk fee charged by the bank during the whole period of the contract, and it also subsidises the interest for eight months.

The facility already made a significant impact on corporate bank lending: despite the adverse circumstances, the stock of corporate loans (local currency) surged by 17% yoy as of April - reversing the -0.03% y/y negative performance displayed last April, at the outset of the crisis.

For running the program, the National Credit Guarantee Fund for SMEs (FNGCIMM - the body managing the schemes) has signed guarantee agreements with 23 banks: Banca Transilvania, BCR, CEC Bank, Raiffeisen Bank, BRD GSG, Unicredit Bank, Alpha Bank, Intesa Sanpaolo Bank, Exim Bank, OTP Bank, Banca Romaneasca, ING Bank, First Bank, Credit Agricole Bank, Patria Bank, Libra Bank, Porsche Bank, Pro Credit Bank, Vista Bank, Idea Bank, Garanti Bank, Banca Română de Credite şi Investiţii, Techventures Bank.

andrei@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian SMEs applied for EUR 7 bln of Govt.-guaranteed loans in 2020-2021

The Romanian small and medium enterprises signed last year 25,586 loan contracts under the Government-backed scheme IMM Invest, worth a total of RON 14.2 bln (nearly EUR 3 bln). In the first five months of 2021, they submitted requests for some 17,000 loans worth RON 20.3 bln (over EUR 4 bln).

Out of the loans requested this year, 13,967 worth RON 16 bln are under the same scheme IMM Invest, and another 2,849 loans worth RON 4.3 bln are submitted under the new scheme dedicated to farmers AGRO, Ziarul Financiar reported.

Under the schemas, the Government subsidises the managing fee and the risk fee charged by the bank during the whole period of the contract, and it also subsidises the interest for eight months.

The facility already made a significant impact on corporate bank lending: despite the adverse circumstances, the stock of corporate loans (local currency) surged by 17% yoy as of April - reversing the -0.03% y/y negative performance displayed last April, at the outset of the crisis.

For running the program, the National Credit Guarantee Fund for SMEs (FNGCIMM - the body managing the schemes) has signed guarantee agreements with 23 banks: Banca Transilvania, BCR, CEC Bank, Raiffeisen Bank, BRD GSG, Unicredit Bank, Alpha Bank, Intesa Sanpaolo Bank, Exim Bank, OTP Bank, Banca Romaneasca, ING Bank, First Bank, Credit Agricole Bank, Patria Bank, Libra Bank, Porsche Bank, Pro Credit Bank, Vista Bank, Idea Bank, Garanti Bank, Banca Română de Credite şi Investiţii, Techventures Bank.

andrei@romania-insider.com

(Photo source: Shutterstock)

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