Eligible businesses may apply for loans with a value of up to RON 10 m (approx. €2m).
Successful applicants will also benefit from a grant of up to €800k covering the corresponding risk, administration and interest fees.
The Romanian Government guarantees up to 80% of loans for medium enterprises1 and up to 90% of loans for micro-enterprises2 and small-sized companies3.
No interest or product fees until at least 31 December 2020 (possibility of extension is provided).
Finance terms of up to 72 months for investments loans and up to 36 months for working capital loans (the latter can be extended up to an additional 36 months).
Collateral and guarantees decided on a case by case basis, but note that the Government guarantee sits behind the borrower, and the primary recourse for the lender remains against the borrower itself (i.e. the government guarantee applies once the lender has exhausted recovery options against the borrower).
The financing is made available through accredited third-party lenders.
Romanian based companies which:
- have an annual net turnover below €50m or hold total assets below €43m;
- have an annual employee average number below 250; (together “SMEs”) and
- operate in any sector (excluding gambling and betting activities; production or sale of ammunition, explosives, tobacco, alcohol, substances under national control, plants, narcotic drugs and psychotropic substances; and protection and investigation activities).
For more information about eligibility please see here (Romanian language only).
The Romanian Ministry of Finance acts as granting authority.
The mandated administrator of the support scheme is the State-owned National Credit Guarantee Fund for SMEs (“FNGCIMM”).
Applications to be made through an online platform.
From 17 April 2020 until 31 December 2020.