The National Credit Guarantee Fund for SMEs (FNGCIMM) announces that, currently, within the Start UP-Nation Program, over 440 guarantees in the name and on behalf of the company worth over 70 million lei for financing of over 88 million lei are in various stages of analysis and approval.
Through the Start UP-Nation Program, entrepreneurs can benefit from individual guarantees worth a maximum of 160,000 LEI, related to financing with a maximum value of 200,000 lei, the guarantee percentage being a maximum of 80% of the value of the loan approved by the Financier, informs FNGCIMM.
Any beneficiary established after January 1, 2020, including start-ups, that falls into the SME category in accordance with the provisions of Law no. 346/2004, as amended and supplemented, and that meets the eligibility conditions according to the financier's internal regulations, such as:
- it is not an enterprise in financial difficulty;
- is not in insolvency proceedings, forced execution proceedings, operational closure, dissolution, liquidation, special administration;
- is not prohibited from issuing checks and has not had any major incidents with promissory notes in the last 6 months;
- does not record outstanding debts to the state budget, etc.
The sharing of credit risk between the bank and FNGCIMM is remunerated through a guarantee fee of max. 2.6 % and the financial expenses related to the guarantees obtained for the loans contracted by the beneficiaries in order to carry out the projects accepted within the Program Start-up Nation are eligible expenses under the program.
program The Woman Entrepreneur already registers over 100 guarantee requests worth approx. 16.8 million lei for financing of over 22 million lei.
In order to access, through the Woman Entrepreneur Program, individual guarantees worth a maximum of 160,000 LEI, related to financing with a maximum value of 200,000 lei, beneficiary companies must fall into the SME category in accordance with the provisions of Law no. 346/2004, with subsequent amendments and completions, and have at least one female associate, who holds at least 50% of the company's shares/shares.
The guarantees related to the financing granted to the beneficiaries of the Start-up Nation and Female Entrepreneur Programs are granted throughout the duration of the financing, within the limit of a guarantee ceiling and under the terms of the Conventions concluded with the partner banks, after the financing has been approved by the bank with which the entrepreneurs have chosen to work, based on the same credit documentation.
