EnglishSmall- and medium-sized companies (having an annual turnover of up to 50 million EUR) will be able to borrow from GarantiBank up to 90% of the value of the VAT returns they are to receive from the State, as documented in the relevant audit reports issued by the Ministry of Finance under a new credit facility introduced by the bank.
"The loan can be given for up to three months and is intended to support the current operations of our customers," GarantiBank announced. Customers will pay the interest every month and the principal as a lump sum upon loan maturity. Loans of up to 50,000 EUR do not require additional collateral. Other receivables, bank deposits, liens and bank guarantees are accepted as collateral for loans between 50,000 EUR and 250,000 EUR.
"By offering this product, we intend to support companies facing temporary cash flow difficulties, which may occur until VAT returns are actually paid by the State. Small- and medium-sized enterprises will therefore be able to have the liquidities they need for optimal business performance," said Okan Yurtsever, Director of Retail Banking & Bancassurance, GarantiBank.
GarantiBank is the Romanian subsidiary of GarantiBank International NV, registered in Amsterdam, which is fully owned by Garanti, the largest private bank in Turkey. GarantiBank Romania has 50 branches, of which 20 in Bucharest.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
