CEC Bank is granting funding this year through the Woman Entrepreneur Program 2024 Edition, the scheme aimed at stimulating and supporting the establishment and development of SMEs led by women, improving their economic performance, achieving sustainable and inclusive economic growth, based on digitization and sustainable development.

“CEC Bank makes available to eligible beneficiaries the resources and financing solutions to help grow their businesses. Our bank makes it easier for them to open accounts to collect the non-refundable financial allowance (AFN) and offers interested customers bridging loans for pre-financing and investment loans for co-financing their own contribution, as well as bank loans intended to finance non-eligible expenses, at favorable cost conditions. Women are increasingly active in the local entrepreneurial environment, so, for any other complementary requests, our bank’s experts can advise entrepreneurs in identifying the optimal financing solutions”, said Ramona Ivan, Director of Relations with National and International Institutions within CEC Bank.

CEC Bank is a strategic partner of the state in supporting entrepreneurial activity and increasing the competitiveness of SMEs, which represent an important segment within the national economic structure, responsible for creating 64% of jobs and 48% of turnover in Romania’s economy. As industries, SMEs dominate some of the most dynamic local economic sectors, such as construction, HoReCa or agriculture.

The main objective of the de minimis scheme is to stimulate and support the establishment and development of SMEs established and managed by women, improving their economic performance, achieving smart, sustainable and inclusive economic growth based on digitization, sustainable development, innovation and training entrepreneurial, in the context of problems related to maintaining the balance between family and professional obligations and prejudices still existing at the local level.

Eligible companies must meet the criterion that at least 50% of the shares/shares of the applicant company are owned by women. For companies established under Law no. 1/2005 regarding the organization and operation of the cooperative, the condition is considered fulfilled if most cooperative members in the Board of Directors are women.

SMEs can obtain a Non-Reimbursable Financial Allowance (AFN) – a maximum of 200,000 lei/beneficiary, an amount that can represent a maximum of 90% of the value of the eligible expenses related to the project.

Thus, the beneficiary companies must also participate with a minimum of 10% of the eligible value of the project, under the penalty of not being granted the AFN.