The company will use the money to buy sunflower seeds and unprocessed sunflower oil, it said in a statement to the Bucharest Stock Exchange Monday.
Argus will guarantee the loan with real estate assets and production equipment.
Shareholders also decide to extend for another 12 months an older loan from Banca Transilvania, of RON7.5 million (EUR1.7 million), due this month.
SIF Oltenia owns 85.75% of Argus Constanta. Argus posted a loss of RON111,000 in the first quarter, much lower than the RON4.5 million loss posted in the first quarter of 2013.
For 2014, the company expects revenues of RON191.7 million, up 34% on the year, and a gross profit of RON5.9 million, according to the company budget approved in April.