A different kind of solidarity: BT Mic launches buy from a small business initiative

17 September 2020 Reading time 4:00 minutes

 

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

 

BT Mic launches the Buy from a small business initiative to spur as many people as possible to choose to buy from companies at the beginning of the road, from small, family businesses. A bakeries, a store with organic products, a coffee shop, a photo studio, a web design workshop - small businesses with original products and services.

The BT Mic blog,also launched today, presents the story of Romanian entrepreneurs with small businesses who talk about beginnings, ideas, challenges, passion and reinvention. They can inspire both entrepreneurial and future clients. People can buy from them easily because in each article is at hand the site, the profile in social media or the address of that company.

Asit looks from a small business is, above all, an urge to solidarity, a movement to support – permanently, but especially in this period – small businesses. They pay taxes and create local jobs. 

 

"Small businesses offer us real entrepreneurial and life lessons because they teach valuable things: autonomy, resilience, optimism, not to give up and to look for solutions. That's where all the businesses that get big start. The initiative aims to make us think differently when we want to buy something: where do I buy, what options do I have, what impact does the fact that I buy from a certain place for that store, for that business, has? Any purchase decision from a small business generates a high added value in its development. And now it takes that more than ever. " - Cristina Sindile, General Manager, BT Mic. 

 

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

Since the beginning of the pandemic, BT Mic has supported small companies by defleting loan rates and continuous dialogue. Small entrepreneurs had and need the most during this period liquidity, solutions and recovery tips to be able to keep the business open. All over 11,000 customers were called at the beginning of the crisis by the BT Mic team, the open dialogue still being maintained. 

 

"The permanent dialogue with the clients is part of the BT Mic 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 would be the reorganization of the business model, how we can adapt the financing. That's how we best realized the implications, the risks, the solutions. Lending is an act of responsibility for us and for them" – adds Cristina Sindile.  

 

For 3,000 microcompanies working with BT Mic, the payment of loan installments has been postponed. Each postponement was discussed and agreed with the clients, who understood what it entailed, and the period was at their choice. Many have opted for a period shorter than that legally allowed, and today already 1,000 of them have come out of the period of suspension of rates. 

 

Also, despite the situation generated by the pandemic, BT Mic continued to grant new financing, without limiting the clients' access: it kept the maximum financing terms, the amounts and guarantees flexible, but also the rapid response - maximum 4 days to the loan applications. 

 

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

 

Press contact

comunicare@btrl.ro

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