English
A.S.
Libra Bank has concluded an agreement with the Guarantee Fund for Rural Loans (FGCR) in order to help Romanian SMEs by allowing them access to funds allocated by the European Union for the development of the farming sector.
Libra Bank, as co-financing partner of the projects, will help SMEs access European funds quicker and easier, based on the guarantees of the FGCR.
Beneficiaries of this program include companies, certified individuals, farmer associations and local councils which operate in the agricultural sector.
The FGCR will guarantee at most 50% of short term loans and up to 100% of investment loans, awarded for co-financing the beneficiaries of the SAPARD, FEADR (European Agricultural Fund for Rural Development), FEP (European Fish farming Fund) and FEGA (European Agricultural Guarantee Fund) programs.
Some of the benefits of working with Libra Bank include the quick review of the loan applications, which means applicants will quickly receive an answer on the co-financing requirements, thus allowing simpler access to European funding.
The bank may also finance expenses which are not eligible as well as current operating expenses, by granting short or medium term loans, according to financial statements presented by the applicants.
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