BCR approves over 1,300 loans for Start-Up Nation

Anca Alexe 26/01/2018 | 10:34

The Romanian Commercial Bank (BCR) has approved over 1,300 pre-financing loans within the Start-Up Nation, of which around 500 have already been approved by the National Loan Guarantee Fund for Small and Medium Businesses (FNGCIMM).

Of the more than 1,300 loans, 1,278 were sent to FNGCIMM for approval. In this context, over 200 entrepreneurs who applied for the programme at BCR have already received the money they needed to develop businesses, most of them in IT, manufacturing and creative industries.

Lucian Matu, executive director for Micro Segments and Products: “We are aware that there are very big expectations with this programme, so the BCR teams involved have made efforts to respond to all the challenges of the project. As in the beginning of any project, we are trying to optimize each process and collaboration with the institutions involved, but what we like the most are the entrepreneurs in the Start-Up Nation programme. Their creative energies are the resource Romania needs to develop in the future, a resource we are trying to harness and support. We will do anything necessary so that the proactive people in Romania can feel that they have a partner they can trust at BCR”.

At the moment, BCR is focusing efforts on the thorough analysis of the applications filed by entrepreneurs in order to ensure that, upon using the loans, clients will have well-prepared project documents. The businesses that have been implemented the fastest, until now, are those in which the entrepreneurs chose to accept the FNGCIMM’s simple warranty option, with a 3.8 percent interest rate.

For now, the funds allocated by the Ministry for the Business Environment, Commerce and Entrepreneurship for the Start-Up Nation programme and in BCR accounts are enough to cover the implementation needs for the upcoming period.

After being accepted into the programme, beneficiaries gain access to two BCR products made especially for supporting their businesses – the Free Start-Up Nation account and the Start-Up Nation Pre-financing credit.

The Free Start-Up Nation account is available in BCR branches and can be accessed both by those who qualified in the programme, in order to prepare for receiving the loan, as well as by those who were rejected, but who do not want to give up on the idea of opening a business.

Beyond the strictly financial offer, BCR also provides entrepreneurs with a unique package for financial education which will help them understand the steps they need to take when starting a business. BCR will also organise special courses in branches all across the country which will help entrepreneurs get familiar with basic accounting concepts.

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