English
Less than two months after the program was launched, Banca Transilvania has already given out more than 1,000 Preguaranteed Loans to SMEs, in partnership with the National Credit Guarantee Fund for SMEs (FNGCIMM), according to a press release.
Daniel Szekely, SME Customer Manager of Banca Transilvania said: "We were a bit overwhelmed by the large number of applications for the Preguaranteed loans. But there is a simple explanation for this: relationships between companies are strained, with requests for extending payment terms, and for shorter time when it comes to receipts. What"s more, due to sales that are shrinking compared to last year, there is a need for companies to keep their inventory of merchandise and finished products. Given the way SMEs perceived the benefits of this first product that we launched in collaboration with FNGCIMM, we want to continue to work with them in providing other funding solutions".
The National Credit Guarantee Fund for SMEs will guarantee 80% of the credit facility, and BT will provide the necessary funding and cover the remaining 20%.
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