Romanian SMEs requested € 7 billion in government guaranteed loans in 2020-2021

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Romanian small and medium-sized enterprises signed 25,586 loan contracts under the government-backed program IMM Invest last year, worth a total of RON 14.2 billion (almost € 3 billion) . In the first five months of 2021, they submitted applications for some 17,000 loans worth RON 20.3 billion (over € 4 billion).

Of the loans requested this year, 13,967 worth RON 16 billion fall under the same IMM Invest scheme, and another 2,849 loans worth RON 4.3 billion are submitted under the new dedicated scheme. to AGRO farmers, Ziarul Financial reported.

According to the schemes, the government subsidizes management fees and risk fees charged by the bank for the duration of the contract, and it also subsidizes interest for eight months.

The facility has already had a significant impact on corporate bank lending: despite unfavorable circumstances, the stock of corporate loans (in local currency) jumped 17% year-on-year in April – reversing the negative performance of -0, 03% year-on-year posted last April, at the start of the crisis.

For the operation of the program, the National SME Credit Guarantee Fund (FNGCIMM – the body managing the mechanisms) has signed guarantee agreements with 23 banks: Banca Transilvania, BCR, CEC Bank, Raiffeisen Bank, BRD GSG, Unicredit Bank, Alpha Bank, Intesa Sanpaolo Bank, Exim Bank, OTP Bank, Banca Romaneasca, ING Bank, First Bank, Credit Agricole Bank, Patria Bank, Libra Bank, Porsche Bank, Pro Credit Bank, Vista Bank, Idea Bank, Garanti Bank, Banca Română de Credite şi Investiţii, Bank Techventures.

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