In February, CEC Bank and the national guarantee fund for SMEs (FNGCIMM) signed an agreement according to which CEC Bank would benefit from state guarantees of up to RON260 million, allowing it to lend over RON520 million to small and medium-sized businesses seeking loans to fund their working capital.
The fund guarantees up to 50% of a loan taken by SMEs.
SMEs must be at least three years old to be eligible for state-guaranteed financing and may contract lines of credit of maximum RON5 million for two years, and may extend the contract by one more year.