On Thursday, the company launched a financing product for the purchase of farming-specific vehicles and machines, called Agroleasing. The product is the result of cooperation between Impuls Leasing and the European Bank for Reconstruction and Development (EBRD), which provided Impuls Leasing a EUR7 million loan earlier this year, destined for farming companies and SMEs.
Agroleasing can be bought by legal persons involved in the farming business, including farming or family associations. The product can be used to purchase tractors, combines, trailers and various farming machines and equipment.
The interest charged is 7.9%. The prospective client must have a deposit of at least 10% of the financed amount. Payments can be spread over a maximum of seven years.
The company expects Agroleasing will have at least 20 clients by the end of 2011 and will finance assets worth over EUR1 million. “We are far from the euphoria of the past, but currently agriculture is on the rise,” said Razvan Diaconescu, general manager of Impuls Leasing.
The product is part of a frame-incentive developed with European Union assistance.
Set up in December 2006, Impuls Leasing is the Romanian subsidiary of Swiss company Impuls Leasing International AG. Its eight branches employ more than 100 people.
In 2010, the company posted gross profit of 3.19 million lei (EUR740,000), compared to losses of RON24.49 million the previous year. (EUR1=RON4.3128)