CEC Bank has signed an agreement with the European Investment Fund (EIF) to supplement the financing and risk-sharing guarantee for SME loans under the initiative Joint European Resources for Micro to Medium Enterprises (JEREMIE).
The total amount available for new loans is the equivalent in RON of EUR 24 million, each institution contributing with 50 percent of the financing granted. This will allow the bank to continue providing financing on favourable terms and with flexible guarantees for investment projects and working capitals of SMEs.
The initial amount of EUR 10 million (half from EIF sources and half from the bank’s own sources) was used in full. Loans were used to finance working capitals or investment projects such as the construction, purchase or development of industrial and commercial spaces.
“By supplementing the financing and guarantee agreement signed with the European Investment Fund in the JEREMIE initiative, CEC Bank continues its mission of supporting SMEs and promoting financial instruments dedicated to this segment. The bank’s customers benefit from favourable and flexible credit conditions, and professional advice through counselling offices dedicated to supporting SMEs in accessing EU funded projects in every county, “said Radu Gratian Ghetea, CEC Bank president and general director.