The Ministry of Public Finances will guarantee up to 80% of the value of the financing granted to SMEs in light of the current COVID-19 situation. Interested companies should note the following:

  • The maximum value of the credits / lines of credit for financing the working capital granted to a beneficiary cannot exceed the average of the expenses related to the working capital of the last two fiscal years, up to a maximum limit of 5 million lei. For investment loans, the maximum value of the financing is 10 million lei.
  • For micro-enterprises or small enterprises, the state will grant guarantees for loans/credit lines for financing working capital, excluding interest, commissions and bank charges related to the state guaranteed credit, at a maximum of 90%. The maximum value of the financing will be 500,000 lei for micro-enterprises and 1 million lei for small businesses.
  • The maximum value of each financing granted to a beneficiary cannot exceed the average of the expenses related to the working capital of the last two fiscal years, within the limits provided for above.

Interest for loans to be subsidized

The Ministry of Public Finances will grant 100% of the interest for loans to be guaranteed, both for micro as well as for small and medium-sized enterprises.

  • The interest will be subsidized from the moment of granting the loan until March 31, 2021;
  • The granting of the interest subsidy is maintained in the years 2021-2022, starting with April 2021 only under the condition that the economic growth estimated by CNSP for these years is below the level registered in 2020 and is established by a Government's Decision.

The outstanding fiscal obligations and other budgetary debts will be paid from the loan/credit linegranted under the program.

The guarantee period will be 36 months with the possibility of an additional 36 months' extension. For the investment loans the period of 120 months will be applicable.

The Ministry of Public Finances will cover the costs of granting and monitoring the guarantees granted by the F.N.G.C.I.M.M.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.