BCR Chisinau: The small and medium business may benefit from accessible credits, with state guarantees, at BCR Chisinau S.A.

BCR Chisinau: The small and medium business may benefit from accessible credits, with state guarantees, at BCR Chisinau S.A.

• 25.05.2012

May 24, 2012. The small and medium sized enterprises (SMEs) from the Republic of Moldova can obtain credits from Banca Comerciala Romana Chisinau SA, benefiting from state guarantees, within the Credit Guarantee Fund.

For this purpose, the Banca Comerciala Romana Chisinau SA has signed a Cooperation Agreement with the Organization for Small and Medium Enterprises Sector Development – ODIMM, concerning the ODIMM guarantee of credits granted to the SMEs from the Republic of Moldova by the bank.

“The Credit Guarantee Funds for SMEs represent an effective leverage for improving access to finance for economic agents. BCR aims to financially support all viable and successful projects, that till now had no chance of realization due to the lack of sufficient guarantees to ensure the credit”, said Sergiu Sahanovschi, Executive Director Corporate at BCR Chisinau SA.

„The Credit Guarantee funds, by facilitating the SMEs access to finance, can stimulate the economic growth in the country through the effective placement the availableand unesd financial resources and stimulating, thus, their effective absorption. We are glad that BCR Chisinau contributes to the development of national economy, by signing today the Cooperation Agreement,” said Iulia Iabanji, ODIMM CEO.

The Special Credit Guarantee Fund was constituted under Government Decision no. 208 of 20.03.2001, being managed by the Fund for Entrepreneurship and Small Business Development and currently administered by ODIMM (established under Government Decision no. 538 of May 17, 2007), its successor. ODIMM proposes guarantees both to the active businesses and the start-ups, young entrepreneurs and migrant workers who want to open a business. The offered guarantees can cover up to 50% of credit amount for a period of five years in the case of active enterprises, young entrepreneurs and migrant workers and up to 70% of the credit amount for a period of three years for start-ups.

BCR Chisinau S.A. serves over 2,000 economic agents from Moldova, from which over 90% are small, medium and micro enterprises. Facilitating access to finance for SMEs and micro-firms represents one of the strategic priorities of BCR Chisinau SA, both by the effective use of existing funds and by attracting funds for international financial institutions.
 

Banca Comercială Română Chişinău

Banca Comerciala Română Chişinău S.A. is a universal commercial bank, established in the Republic of Moldova on October 22, 1998. The single shareholder of the bank is BCR SA, the leading banking organization in Romania; member of Erste Group, one of the largest financial providers in Central and Eastern Europe.