“About 59,000 companies have applied for funding through the IMM Invest program so far and we sent 53,138 applications to banks. Applications under review or pending approval account for half of the loan cap and banks say they got as many applications in one week as they used to get in six months,” Dumitru Nancu said on ZF Live.
“A number of 582 applications have been completed and approved for RON500 milion funding.”
The successful applicants in the IMM Invest program include C&C Food Packaging in Satu Mare, a non-specialist wholesaler, Poeme in Dambovita County, a cosmetics retailer, Prioris (Vrancea), which has 114 employees and makes clothing and Comnilis Prod (Prahova), which has 124 employees and makes meat products.
The 582 applications from small and medium-sized businesses that got a total of RON500 million funding were approved by 10 of the 22 banks in the IMM Invest program, Dumitru Nancu added.
IMM Invest is a governmental program intended to help small and medium-sized companies affected by the COVID-19 pandemic ensure working capital and capital for investments in the current economy.
The government guarantees up to 90% of the loans companies secure from banks. It also subsidizes the interest for such loans but only until the end of this year, with the subsidization to continue only if the economic growth forecast is lower than this year’s growth.
(English version by Loredana Fratila-Cristescu)