Banca Transilvania (BT) and the European Investment Fund (EIF) signed a guarantee agreement under which BT will grant loans with portfolio guarantees to SMEs amounting to RON 1.5 billion.

Companies will be able to access loans up to EUR 7.5 million in value, both for working capital needs and investments, from Banca Transilvania, with guarantees of up to 70% of the loan facility value.

The agreement covers two private sector programmes, Competitiveness (The SME Competitiveness Guarantee) and Sustainability (The SME Sustainability Guarantee), funded through the Recovery and Resilience Facility of the National Recovery and Resilience Plan (NRRP) and supported by InvestEU.

"We are pleased to be part of this new agreement with the European Investment Fund, which will make it easier for entrepreneurs to access new funding. SMEs are the aspirational part of BT's business support ecosystem, the largest in Romania, which contributes to the sustainable transformation of the Romanian economy, taking into account the European objectives" - states Daniel Szekely, Executive Director SME & Microbusiness, Banca Transilvania.

Banca Transilvania Financial Group and the European Investment Fund have carried out similar projects so far - SME Initiative, Jeremie, POIIMM, Cosme Covid-19 and Skills & Education - supporting over 2,500 SME clients of the bank.