The national SME support programs will get 60% more funding this year compared with 2011; the “Kogalniceanu” program’s allowance alone has been increased from RON24 million to RON70 million, enough to support around 12,000 companies, according to the Agency’s estimates.
Through this scheme, the government guarantees 80% of the value of loans taken by SMEs (up to a maximum of RON100,000) and subsidizes up to 70% of the interest for loans in lei (up to 6.5% per year). The amount provided is equal to 50% of the firm’s turnover in the last 12 months, or no more than 30% if the firm receives other lending incentives.
The Agency also runs a program to assist the creation and development of micro-companies set up by young entrepreneurs. Operational starting February 15, it will have a budget of RON21 million. (EUR1=RON4.3477)