Banca Transilvania in Romania, the main banking institution participating in the SME INVEST, has started approving loans under the program. Over 5,000 companies have chosen BT as their partner bank so far this year. BT Financial Group is ready to take over requests on the other components of the program, AGRO SME INVEST, SME Factoring, and SME Leasing.
In 2021, through changes to the program, the categories of eligible beneficiaries have been expanded, so that the liberal professions, PEs, family businesses, and agricultural customers can apply for funding.
“Extending the program is more than welcome. We are confident, given the success, it enjoyed last year. At BT, we continue to get significantly involved in facilitating access to finance and we recommend SME INVEST clients. This is important for the Romanian business, it is important for us. From what we see, farmers are showing significant interest in AGRO SME INVEST and we expect this program to grow. We organize ourselves as well as possible to complete the clients’ requests by June 30 “, says Tiberiu Moisa, Deputy General Manager of SMEs and Mid Corporate at Banca Transilvania.
The SME Invest program facilitates access to finance for small and medium-sized businesses affected by the pandemic. The state guarantees up to 90% of the loan amount, and the guarantee period is up to 72 months. Beneficiaries can cumulate state-guaranteed financing up to the ceiling of 10 million lei, of which a maximum of 5 million lei for working capital.
More details for entrepreneurs who choose BT as their partner bank are included in the BT IMM INVEST brochure and on the bank’s website.
SME INVEST and BT brought almost 4.5 billion lei to the economy last year
In 2020, through the IMM INVEST program and Banca Transilvania, over 10,000 loans were granted, which brought in the economy almost 4.5 billion lei and through which approximately 100,000 jobs are supported.
SME INVEST means for the bank including almost 3,000 new customers, a third of the credited companies being the first financing from Banca Transilvania.
Source: Bank’s Press Release from May 18, 2021
