Raiffeisen Bank in Romania launches Factory GROW – a personalized scaling module, based on which entrepreneurs can obtain a loan of up to EUR 500 thousand, to propel their businesses to other markets, expand their business model or innovate.
The entrepreneurs who already have a business model validated by the market and a clear vision of the business development plan can enroll in the scaling module.
The registrations at Factory GROW are open throughout the year https://www.raiffeisenfactory.ro/factory-grow. Those who register until September 17, respectively October 17, will go through the selection stages with priority.
Five years after its launch, the Factory by Raiffeisen Bank program becomes an ecosystem of opportunities for entrepreneurs who need resources, guidance, and support to take their businesses to the next level of development. Thus, for the first time in Romania, Raiffeisen Bank offers mature companies the opportunity to grow rapidly, with a personalized scaling strategy, according to business needs.
The Factory GROW scaling module is addressed to all curious entrepreneurs, open to learning, with solid know-how in business and who are determined to expand their businesses. In Factory GROW, they benefit from a personalized scaling strategy for free, based on clear growth objectives, they receive support to identify the directions they should focus on, but also the necessary tools to easily manage the changes in their businesses.
To implement the scaling strategy, the entrepreneurs have access to a loan of up to EUR 500 thousand and benefit from constant support and guidance from the Factory GROW team, made up of Raiffeisen Bank specialists and entrepreneurs with experience in the scaling process.
Benefits and opportunities in the scaling module
In addition to the funding and scaling strategy offered, the entrepreneurs will have the chance to develop their management and leadership qualities to be able to coordinate the business growth process, they will have access to new markets and they will be able to expand their business model in Europe or even in the world. At the same time, they will receive practical recommendations on how to adjust their business structure so that it corresponds to scaling ambitions, but also how to innovate the product, service, or business model to capture and increase the public’s interest in the company’s offer.
Factory GROW – a solution to the needs of entrepreneurs
Factory GROW represents a response to the need for resources and know-how highlighted by Romanian entrepreneurs who want to accelerate the development of their companies, but need financial support and more to take this step.
“We talk daily with dozens of entrepreneurs to understand their business needs and how our products can help them. Many Romanian companies, having reached a certain maturity, feel the need to move to the next level of development, modernize their internal organizational process, to launch a new product or an innovative service. Thus, we decided to develop Factory GROW, a scaling module dedicated to the needs and vision of Romanian entrepreneurs. Throughout the scaling process, our experts will guide the companies, helping them to properly manage their risks and expand their business according to their strategy and objectives,” – explained Vladimir Kalinov, Vice President of Retail at Raiffeisen Bank.
“Factory GROW scaling module is an ambitious program for an ambitious group of managers! The differentiating factor of a company, a potential candidate for scaling, is a confirmed and repeatable business model. As it has been proven in other European Union countries, financing is essential for the scaling journey, and to this will be added the support of Raiffeisen Bank, adapted to the individual needs of each company,” – added Raluca Cibu-Buzac, Luminspino Representative, a Partner in Implementing the Scaling Module.
The steps for applying Factory GROW:
- The entrepreneur completes a diagnostic form, designed to identify the financial needs, strengths, necessary measures, and the company`s proposed courses of action.
- The Factory GROW team will select the businesses according to their scaling potential.
- Once the diagnostic process has ended, the entrepreneur together with the team of specialists builds the customized scaling strategy, which will ensure fast and safe growth.
- For three years, during which the scaling strategy is implemented, the entrepreneurs benefit from constant support from the factory GROW team, which will monitor and analyze whether the company’s development takes place within the provided parameters and whether the results meet expectations.
How can entrepreneurs register in the module?
The registrations in Factory GROW are open from now until 2022, at https://www.raiffeisenfactory.ro/factory-grow. The entrepreneurs have two intermediate registration deadlines for the module, September 17th and October 17th, if they want their business to be evaluated with priority in one of the two evaluation intervals.
More details about Factory GROW are available at www.raiffeisenfactory.ro.
Source: the Bank`s press release dated September 09, 2022