The scheme for SMEs is near to be launched: the program details were published, and the banks may require guarantee ceilings

Banks may require ceilings guarantees for loans to small and medium enterprises after the Ministry of Finance published this week in the Official Monitor the order regarding the implementation of a program whithin which the state will grant of 2 billion lei. The program will be developed through the Credit Guarantee Fund for SMEs.

6000 SMEs could obtain a loan at interest initially about 5.5% per year through this program. The Ministry of Finance negotiated with the banks an interest which consits in the Robor indicator  of 3 months (2% per year) plus a margin of 3.5%, which includes all bank charges. The maximum value of the credit is 5 million lei and may be granted up to two years, according to the document published in the Official Monitor.