#StatusBT on the IMM Invest program: Banca Transilvania has so far approved almost 500 loan applications

Of the approximately 60,000 companies that applied to the IMM Invest programme, over 22,000 chose Banca Transilvania. So far, BT has contacted over 12,000 clients and almost 500 loan applications have been approved.

"The large number of companies that have turned to IMM Invest is encouraging, it shows the vitality of the economy and the positive reaction to this initiative. BT's suggestion is that the interest subsidy mechanism should be of the type x months from the approval of the IMM Invest guarantee, rather than a fixed date (31 December) so that this aid is received in the same conditions by each business entering the programme, regardless of the time of approval"- states Tiberiu Moisa, Deputy General Manager MidCorporate & IMM, Banca Transilvania.

At Banca Transilvania, around 1,500 people in the team deal primarily with SME Invest. Other departments have been co-opted, the usual flows have been reorganised. "BT's estimate is that the pace will increase and, starting next week, we will see 100-150 files approved and loaded into the fund's application every day. We are not ruling out further simplifications. Every application is important and we know that it matters to people. We look at each one carefully." - adds Tiberiu Moisa.

BT recommendations: 

• Entrepreneurs should be careful with planned investments to make the move to SME Invest only if they have confidence in the business.
• How the extra liquidity that comes from the SME Invest programme is managed depends on the quality of business decisions.
• Better understanding of the document completion stage. Entrepreneurs need to understand very well what they are signing, what they are committing to because they are entering into a long-term relationship with the bank and the State.
• IMM Invest is primarily a credit access programme, not a non-reimbursable initiative.

What BT looks at in its credit analysis:

• Financial performance;
• Quality, reputation of the people who built the business;
• Guarantees - are important, but they alone do not make a difference.

The opportunity brought to entrepreneurs by SME Invest is the access to liquidity - through the mechanism of the state guarantee, respectively the interest subsidy until the end of the year - important to reduce costs. Banca Transilvania has a ceiling of RON 3.4 billion.