CEC Bank gave credits worth 2 million lei in two months for SMEs

CEC Bank announced it gave credits worth 2 million lei within the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM) and analyzes granting of another 4 million lei worth loans, of a total amount of 520 million lei for the next two years.

2014-04-23 15:43:12

Under the Convention, CEC Bank will benefit over the next two years from a maximum of guarantees amounting to about 260 million lei, by means of which SME customers will be able to access credits over 520 million lei on favourable terms of cost and guarantee.

SMEs with at least 3 years of existence will be able to contract from CEC Bank lines of credit in lei to finance the working capital up to 5 million, over a period of up to 24 months with possibility of extension up to 12 months. Facility can be guaranteed by the state through FNGCIMM for maximum 50 % of the loan amount. Related costs are extremely advantageous and are composed of interest ROBOR 3M + 2.5 % pa, management fee of 0.04 percent p.a. applicable monthly to the baseline value of credit line and fee for the assessment of guarantees.

"Year 2014 is very important for CEC Bank. For 150 years Romanian people have put their trust in us, a trust that we reward by means of products and services of quality, under favourable conditions and costs. We started the year in force, offering SMEs a product with only 1 percent margin applied to ROBOR 6M index: Investment Loan for SMEs from the Romanian-Swiss Programme. We continue now with the Credit Guarantee Program for SMEs, by means of which we provide more advantageous costs than the maximum ones provided by law. Thus, "we strengthened an offer of complete, varied and award winning banking products and services, and our role as a partner of Romania′s economic development," said Radu Gratian Ghetea, President of CEC Bank.
By practicing an interest which based on the existing indices does not exceed 4 percent p.a. in case of the credit granted by means of the Romanian-Swiss program and 5 percent p.a in case of credit granted according to GEO 92/2013, plus the most extensive network of territorial units and specialized consultancy offered free of charge by the Counselling Offices for SMEs and European funds present in the county headquarters, CEC Bank continues to facilitate SMEs access to the financing necessary for the consolidation and development of business plans," CEC official statement said.

Also, starting on February 3, 2014, CEC Bank came to support legal entities who have contracted credits in lei or who want to contract such credits, by reducing the bank reference interest, called Prime Rate (PR) 0.80 percent p.a.

"By reducing interest to credits destined to legal entities, CEC Bank confirms once again the active involvement in supporting clients by reducing the effort of monthly commitments repayment, and of the contracting of new funding," said Mr. Radu Gratian Ghetea, President of CEC Bank.

More details about the bank′s products and services can be obtained at any CEC Bank branch, of by calling the toll-free phone number 0.800.800.848 or by accessing the website www.cec.ro.