Twenty banks to enter the Credit Guarantee Program for SMEs

The Credit Guarantee Program for SMEs engaged 20 banks which submitted their applications within the given period whose deadline was last Thursday, January 30, The National Fund for Credit Guarantee for Small and Medium Enterprises announced through a media release, Agerpres informs.

Hence, the Fund will proceed with the signing of the related conventions with the financiers enrolled in the Program: Banca Transilvania, BRD Group Societe Generale, CEC Bank, ING Bank, Banca Romaneasca, Banca Comerciala Carpatica, Intesa San Paolo Bank, Alpha Bank, Banca Comerciala Romana, UniCredit Tiriac Bank, Piraeus Bank, Bancpost, Leumi Bank, Ate Bank, Banca Italo-Romena, Banca Comerciala Feroviara, Volksbank, OPT Bank, Marfin Bank and Nexte Bank.

Therefore, according to the said press release, the loans will be available within the very next period, the approved coverage being of 2 billion lei which is considered insufficient by the banks that requested an extended one of over 3 billion lei.

The Guarantee program is destined to entrepreneurs who can apply for loans of no more than 5 million lei for each SME, but only for working capital. Such loans have a repayment period of two years with possibility of extending it for another year and are supported by the Fund through a guarantee of maximum 50 percent of the total amount, except interest, fees and bank charges.