FNGCIMM issues guarantees to entrepreneurs using the “Mihail Kogalniceanu” credit lines

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Romanian entrepreneurs interested in accessing credit lines in the framework of the « Kogalniceanu » programme can benefit from a guarantee ceiling of 1,2 billion Lei in 2012. The guarantee will cover individual credit lines with an amount of up to 100.000 Lei by maximum 80 %.

FNGCIMM, the Romanian National Credit Guarantee Fund for SMEs, is aiming at processing correct and complete applications with a high degree of efficiency, taking into consideration that in 2011, approval time did not take more than 24 hours. The guarantee, which is issued by the State, is granted after the bank has approved the credit line, and only when it is verified that the beneficiary of the programme does not dispose of sufficient collateral to access the credit line.

13 Romanian commercial banks issue the credit lines with an interest rate that is partially subsidized in the framework of the “Kogalniceanu” programme. More details regarding this programme can be found (in Romanian) at:

Link: http://www.fngcimm.ro/index.php?page=mihail-kogalniceanu