Nearly 60% of BT's SME Invest financing went to microenterprises

- Banca Transilvania's number 1 priority is to support businesses, including small businesses.
- A third of the companies lent received financing from BT for the first time through IMM Invest.
- Microcompanies lent by BT were profitable in 2019.

Banca Transilvania, the main banking institution in the SME Invest programme, has so far approved over 7,000 loans, bringing over 2.5 billion lei into the economy and supporting over 70,000 jobs in all counties of the country. Nearly 60% of these loans have gone to microenterprises, for which IMM Invest is a welcome measure for the continuation of their activity, so that the economy can rely on them in the future.

Microenterprises credited by BT through IMM Invest are considered those businesses with a turnover of up to 500,000 lei. They were profitable in 2019 - they had at least an operating profit - and now have a more stable business outlook. Access to loans under the programme was facilitated by minimum collateral requirements, basically requiring a state guarantee and, if it was an investment loan, a mortgage/collateral on the assets purchased under the project. 

One third of the companies lent by BT received financing from Banca Transilvania for the first time. Therefore, IMM Invest means for the bank more than 1,500 new clients. The programme has contributed to BT's plan to continue supporting as many small companies as possible.

"We discussed a lot about the large number of applications and how to organise ourselves. Our main idea has been to support as many small firms as possible and make sure our requirements are reasonable for them. Access to finance or the well-being of small or young firms has been a red thread at BT for many years. Of course we have paid equal attention to established businesses, but it has been clear that a big effort will be needed. You work harder for a large number of small loans. However, if we had to start again, we would do the same" - says Tiberiu Moisa, Deputy General Manager MidCorporate & SME, Banca Transilvania.

In the four months since the start of the SME Invest programme, Banca Transilvania has allocated more than 70% of the 3.48 billion lei allocated by the Government. The main areas of activity financed by the bank through IMM Invest are: trade, transport and construction. Even if most of the ceiling allocated under the programme is used or in the process of being used, BT will continue to advise its clients to access the most suitable financing solutions through IMM Invest.

Banca Transilvania publishes weekly on the bank's website, on Newsroom, the status of the approval of loan applications in the SME Invest program.