New resources for financing small and medium sized enterprises
The Romanian CEC Bank will access a 100 million euro loan from the European Investment Bank for financing projects initiated by small and medium sized companies. The loan will also help companies operating in the media industry, various services, tourism and infrastructure. This measure shows that small and medium sized companies in Romania play an important part in the overall economy.
This newly announced loan was preceded by another loan from the European Investment Bank which was also used for financing small and medium sized companies. With the help of the loan received in 2013, CEC Bank managed to finance more than 100 projects in various business fields. Areas that have received investments were: manufacturing, agriculture, trade, services, the construction and production of green energy.
An important loan to finance an important part of the economy
Romanian officials declared that the loan is the largest approved by the European Investment Bank for a bank in Romania. The loan is very important because, through it, small and medium sized companies will be able to develop projects and increase their company value. In terms of new jobs created and economic growth, SMEs are a very important part of the economy in Romania .
Our accountants in Romania can offer you detailed information if you are interested in attracting loan funds. These funds can be attracted by small and medium sized companies with a maximum of 3,000 employees in Romania. The loans will be granted in RON or in EUR and they will have a value of 50% to 100% of the eligible project costs. The maximum amount for a loan is set at 12.5 million euros. In order to be considered eligible for a loan, projects must have a maximum value of 25 million euros.
Small and medium sized companies in Romania will be financed through a number of 14 private and public financial institutions.
Please contact our accounting firm in Bucharest for more details about special provisions regarding the allocation of the loans. If you are interested in investing in Romania, we can provide complete and professional services for all types of businesses.