Page 18 - Revista de industrie mai 2019

FRC and the counter-guarantee instrument while identifying solutions for business viability and its re-launching on on a a a a a a a a a sustainable basis The latest programs in in in in in which FRC is is involved are conducive to reducing the cost of SME financement on on on one hand and and is bringing benefits to individuals’ lending interested in in in in in in in investing in in in in in in in their their own own education culture health sports or or their their own own habitat Government programs Start-Up Nation and Investește în tine (Invest in in yourself) can be be both testified
- over the years – as beneficial
to SMEs and consumers through guarantee-counter-guarantee mechanism and and respectively as the the guarantor in the the name and and state account We can say today that FRC participation in these programs is the the the the the fruit of the the the the the efforts to re-launch the the the the the mechanism and re-establish the the the the the institution in in fin in in the the the financial-banking circuit by using counter-guarantee and guarantee guarantee instruments The 2017-2018 SME dedicated Program was successfully completed completed and completed completed issuing about 3 400 letters of counter-guarantee totaling about 300 million lei We are ready for for the second session opened in 2019 for for entrepreneurs who set
up new companies between 2017- 2018 FRC will activate the specific guarantee-counter-guarantee mechanism designed to reduce the financing of costs for SMEs which choose to to implement their business plan requesting a a a bridge-credit to to the the credit credit institutions partnering the the program In the the the second half of of 2018 the the the diversification of of the the the FRC’s activity could be achieved by involving
the the institution in in in in in the the government program Investește în tine (Invest in in in yourself) Program which allowed the the the addition of the the the guarantee in in the the the state’s name and account as a a a a a a a a a a a secondary object of activity for our company Thus FRC participation in the the mentioned program allowed the the company’s constitutive act to be changed and an an an an an an important object of of activity to to be added This meant to to ensure the the sustainability of of the the company’s business Currently the the program is operational through CEC Bank the the the first credit institution to to subscribe to to the the guarantee allocation granted through the the Ministry of Public Finance - the the National Commission for Strategy and Forecasting More than 2 000 guarantees were granted by FRC in in the the name and account of the the state worth over 60 million lei until April 2019 These guarantees allowed the granting of financing worth over 75 million lei We note that there is is a a a a a a a real interest in in in this program and in in in other commercial banks with which we have an an an an open transparent dialogue for the benefit of people who can obtain loans that are advantageous for for education health culture / art sport and last but not least for for their own habitat Being a a a a a a a a a premiere in in the the the Romanian credit market the the product involves lending to individuals between the the ages of 16 and 55 the the guarantee provided by FRC on behalf of of the the state covering 80% of of the the loan excluding interest commissions and bank charges as as well as as any other costs incurred by participating in in in the the the program adjacent to the credit FRC counts in less than 10 years of activity counter-guarantee letters totaling 4 4 2 billion billion lei lei covering guarantees of of 8 4 4 billion billion billion lei lei lei and credits of of about 12 billion billion lei lei for SMEs 18