Garanti Leasing takes a 7.5 mln euro loan to finance SMEs

The leasing division of Garanti Romania has concluded a 5-year loan arrangement for a 7.5 million euro with the Black Sea Trade and Development Bank (BSTDB). Garanti Leasing will use the credit to support its lending operations in the SMEs (Small and Medium Enterprises) sector, is stated by a press release.

Financing SMEs became a priority for Garanti Leasing which has a portfolio comprising of companies operating in a industries such as transport industry, logistics, healthcare or agriculture.

“Small and medium-sized enterprises are a priority for Romania’s economy and they need a diversified funding sources to develop their businesses (...) This partnership is designed to enhance access to financing for small and medium-sized enterprises, which will revive the domestic economy, as well”, said Okan Yurtsever, General Manager of Garanti Leasing, as per the mentioned source.

The Black Sea Trade and Development Bank started its leasing activity in the Black Sea area in 2003, arranging 16 arrangements worth 103 million euro so far (except the loan to Garanti Leasing) in Bulgaria, Georgia, Moldova, Romania, Russia and Turkey. 

Garanti Leasing is the brand under which operates Motoractive IFN, becaming part of Garanti Romania in 2010, group which includes Garanti Consumer Credit and Garanti Bank. The latter took last month a loan up to 50 million euro from the European Investment Bank to finance projects run by Small and Medium Enterprises, midcap companies and public sector entities.