Romanian walnut kernel processor keeps expanding on bank loans
BRD Groupe Societe Generale extended a EUR 2.3 million loan to Transilvania Nuts, a local walnut kernel processor set up and run by local entrepreneurs Levente Bara and Alexandru Chiric.
In 2019, BRD financed "one of the most efficient walnut production and processing units globally", which also received EU funding.
The factory is based in Ciugud commune, Alba county, one of the most developed rural localities in Romania.
"The support provided by BRD has given us the impetus to build one of the most efficient walnut production and processing units globally," said Alexandru Chiric, CEO of Transilvania Nuts.
The factory was completed in October 2019, and its processing capacity amounts to 5,000 tons per year.
The new loan Transilvania Nuts received from BRD will cover the working capital needs of the company, the bank announced in a statement.
Corporate lending is losing momentum in Romania, particularly during the crisis. Still, the IMM Invest program will likely add some impetus, just like the new state-backed mortgage program will support retail lending.
(Photo: Transilvania Nuts Facebook Page)