The Black Sea Trade and Development Bank is expanding its support to small and medium-sized enterprises (SMEs) in Romania with a EUR 20 million leasing facility to Garanti BBVA Leasing. The financing will enable the company to meet the demand of Romanian SMEs in acquiring equipment, machinery, and vehicles. The new loan is the third agreement signed by Garanti BBVA Leasing and the BSTDB.
By working with Garanti BBVA Leasing, a trusted partner since 2014, BSTDB funding is expected to reach out to more than 200 companies, thus contributing to job generation, increased competitiveness and export capacity for the Romanian economy.
“BSTDB remains committed to supporting the leasing market in Romania and we are pleased to continue our partnership with Garanti BBVA Leasing. This new financing underscores the role of leasing as a flexible alternative for SME finance by facilitating access to finance for companies to overcome economic slowdown and support recovery, at a time when credit implications due to the coronavirus pandemic are still serious.”, said Hasan Demirhan, BSTDB Vice President Banking. “This operation is also a strong testimony of the Bank’s role in supporting regional cross-border investments and we are proud to join forces with Garanti Group in the times of economic turbulence”.
“Supporting our customers’ needs is Garanti BBVA Leasing’s number one priority, which is why we are very pleased to continue our long-standing partnership with the Black Sea Trade and Development Bank, through the third agreement. The SMEs represent an important segment of the Romanian economy, and we want to continue to be a solid and trusted partner, by supporting our customers in developing their projects and businesses. We proved our customers that we are a long – term partner for them, and they can rely on us, including in challenging times”, stated Okan Yurtsever, General Manager, Garanti BBVA Leasing.