OTP Bank in Romania continues to support local entrepreneurs this year as well, through the partnership concluded within the SME Support Program – SME Invest Plus.
SMEs, including mid-caps and startups, as well as those in agriculture, fisheries, aquaculture, and the food sector, will be able to secure the necessary liquidity for running current activities or investments.
The maximum amount of loans granted can be up to RON 10 million (approx. EUR 2 million) for investments (except for beneficiaries in the field of primary agriculture, aquaculture, and fish farming, for which the maximum amount of financing is RON 5 million (approx. EUR 1 million) and up to RON 5 million (approx. EUR 1 million) for working capital, except beneficiaries from the sugar beet processing industry, who can access loans for working capital of up to RON 10 million (approx. EUR 2 million).
“Supporting entrepreneurs and the entire SME sector is very important for good development of the local economy, especially now, when the need for financing has increased. I consider the extension of SME Invest Plus to be salutary and I am glad that in 2023 the program also comes with a series of additional advantages, which will lead to an increase in the number of beneficiaries. For OTP Bank, the decision to once again be partners of SME Invest Plus came naturally, considering that supporting the entrepreneurial environment is an important pillar of our business vision,” – said Roxana Hidan, DCEO Business Division, at OTP Bank Romania.
The main advantages of accessing guaranteed financing with guarantees offered by the Romanian state, within the SME Invest Plus aid scheme, with all its components (SME INVEST, AGRO SME INVEST, SME PROD, GARANT CONSTRUCT, RURAL INVEST, and INNOVATION), are:
- the guarantees in the name and on behalf of the state, up to 90% of the value of the loans accessed;
- a fully subsidized interest for 12 months under the conditions provided by law (except for beneficiaries of the AGRO SME INVEST component in the field of primary agriculture, fishing, and aquaculture, who do not benefit from subsidized interest);
- the risk and administration fees subsidized by the state, throughout the loan;
- a financing term of up to 72 months for investment loans and up to 36 months for working capital loans, without the possibility of extension;
- a grace term for investment loans of up to 18 months.
OTP Bank Romania will grant subsidized loan facilities under the law and with flexible guarantee structures in partnership with National Loan Guarantee Fund for SMEs, Romanian Rural Credit Guarantee Fund, and Romanian Fund for Counter-Guarantee.
Check the official page www.iminvest.ro for more details.
Source: the Bank`s press release dated February 20, 2023