SME <1M Euro and 1-50M Euro
INITIATIVE FOR SMEs

Initiative for SMEs Program characteristics

What is the Initiative for SMEs Program financial instrument?
Uncapped portfolio guarantee provided by the European Investment Fund (EIF).

Who can access this program?
Companies that cumulatively meet eligibility criteria:

- are classified in the SME category, in accordance with national and European legislation (they have less than 250 employees and an annual turnover of less than EUR 50 million / have total annual assets not exceeding EUR 43 million),
- are registered and operate in Romania,
- operates in the areas considered eligible under the transparent de minimis aid scheme,
- have fulfilled their obligations to pay taxes, duties and social security contributions,
- complies with the cumulation rule established by law on de minimis aid (maximum 200,000 euros equivalent in lei, respectively 100,000 euros equivalent in lei for companies operating in the road transport sector),
- meet the bank eligibility criteria for granting loans.

What is the guarantee percentage?
60% of the value of each loan granted to SMEs.

What are the products that can be granted and included in the portfolio?
- Working capital loans
- Investment loans

Maturity
- At least 24 months
- Maximum 120 months

Loan currency - RON

What is the maximum value of loans?
22.7 MRON (total value of facilities granted to a customer, calculated at group level).

Specifically, for Horizon 2020:

- the minimum amount of loans will be 25 KEUR, the equivalent in RON,
- the maximum value cannot exceed 7.5 MEUR, the equivalent in RON.

Customer benefits
- EIF 60% guarantee,
- Reduced collateral requirement in addition to the EIF guarantee, established in accordance with the bank's internal rules,
- Interest and fees lower than the standard level,
- The loan granted under the “SME Initiative” are included in the de minimis Aid scheme,

De minimis aid is the cost advantage enjoyed by the customer through the EIF's participation in the loan risk.