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A different kind of solidarity: BT Mic launches Buy from a Small Business initiative

17 September 2020 Reading time 3:00 minutes

 

  • People support the local economy by supporting small businesses.
  • At the start of the pandemic, the BT Mic team contacted each of the more than 11,000 BT Mic customers to find, where appropriate, solutions for recovery.
  • BT Mic continued to provide new loans throughout the year to support small businesses.  

 

BT Mic is launching the Buy from a Small Business initiative to encourage more people to choose to buy from start-up, small, family-owned businesses. A bakery, an organic shop, a coffee shop, a photo studio, a web design studio - small businesses with original products and services.

The BT Mic blog, also launched today, presents the stories of Romanian small business entrepreneurs who talk about start-ups, ideas, challenges, passion and reinvention. They can inspire both entrepreneurs and future customers. People can buy from them easily because in each article the website, social media profile or address of the respective company is at hand.

Buying from a small business is, above all, a call for solidarity, a move to support - permanently, but especially in this period - small businesses. They pay taxes and create jobs locally.

 

"Small businesses offer us real entrepreneurial and life lessons because in them we learn valuable things: autonomy, resilience, optimism, not giving up and looking for solutions. This is the starting point of all the businesses that become great. The initiative aims to make us think differently when we want to buy something: where do I buy from, what options do I have, what impact does the fact that I buy from a certain place have for that shop, for that business? Any decision to buy from a small business generates a big added value in its development. And that is needed now more than ever. " - Cristina Sindile, General Manager, BT Mic. 

 

BT Mic, with customers from the first day of the emergency

Since the beginning of the pandemic, BT Mic has supported small businesses by deferring loan rates and ongoing dialogue. Small entrepreneurs have needed and need liquidity, turnaround solutions and advice the most to keep their business open. All of the more than 11,000 customers were called at the beginning of the crisis by the BT Mic team, and the open dialogue continues. 

 

"Permanent dialogue with customers is part of BT Mic's organizational culture. But the pandemic has led us to intensify these discussions in order to better understand the impact of the current economic context on them, what it would mean to reorganize the business model, how we can adapt the financing. This is how we best understood the implications, the risks, the solutions. Lending is an act of responsibility for us and for them " - adds Cristina Sindile.  

 

For 3,000 micro-businesses working with BT Mic, loan repayments have been delayed. Each individual deferment was discussed and agreed with the clients, who understood what it entailed, and the period was at their discretion. Many opted for a shorter period than legally allowed, and today already 1,000 of them are out of the period of suspension. 

 

Also, despite the pandemic situation, BT Mic has continued to provide new financing without limiting customer access: it has maintained maximum financing terms, flexible amounts and guarantees, and fast response times - maximum 4 days to loan applications. 

 

The story of BT Mic, a start-up of Banca Transilvania Financial Group, founded 3 years ago, can be followed on the BT Blog.

 

Press contact

comunicare@btrl.ro

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