Romania’s Government approved yesterday a program that supports small and medium-sized enterprises (SMEs) to increase their access to financing by granting state guarantees.

The program, called IMM Invest Romania, particularly aims to grant guarantees to SMEs that plan to set up or develop leisure centers. In their case, the state guarantees will cover up to 80% of the financing. The maximum guarantee granted in this program amounts to RON 1.25 million (EUR 270,000).

The program also focuses on small and medium companies that don’t have access to financing. In this case, the guarantee percentage is up to 50% of the financing.

The maximum funding duration is 120 months in the case of investment credits and up to 24 months in the case of loans for financing working capital. Credit lines can be extended for up to 24 months.

SMEs represent 99.7% of the companies active in Romania. They contribute 60% to the GDP and employ about 60% of Romania’s labor force.

editor@romania-insider.com