The National Credit Guarantee Fund for Small and Medium-sized Enterprises (FNGCIMM) will continue support for the agricultural sector in 2023 as well by guaranteeing loans extended from European and national subsidies, FNGCIMM announced on Wednesday.
"The partnership between the National Credit Guarantee Fund for Small and Medium-sized Enterprises (FNGCIMM), the Agency for Agricultural Payments and Intervention (APIA) and the banking system continues in 2023 by signing new guarantee agreements that will facilitate access to funding for APIA beneficiaries," according to FNGCIMM.
So far, FNGCIMM has concluded agreements with APIA and the following financiers: BCR, OTP Bank, CEC Bank and Unicredit - Agreement on applicants for the state aid scheme regulated by Government Decision 1179/2014 for the establishment of a state aid scheme in the animal breeding sector related to the period 1 January - 30 June 2023; BCR, CEC Bank and Unicredit - Convention for the beneficiaries of intervention DR 06 - animal welfare package b) bird welfare payments, commitment year 2023; BCR, CEC Bank and Unicredit - Agreement on beneficiaries of intervention DR 06 - animal welfare package a) pig welfare payments, commitment year 2023.
Under the new agreements, FNGCIMM will guarantee 80%, at the financier's request, of the loans for the working capital needed to carry out current activities, granted by partner credit institutions. A guarantee commission fee is paid for the granted guarantee, calculated against the rating assigned to the beneficiary by the funding institution. The value of the funding is capped at 90% of the value of the certificate issued by APIA.
Farmers applying for the state aid scheme in the animal breeding sector for the period 1 January - 30 June 2023 and beneficiaries of intervention DR 06 - animal welfare package a) pig welfare payments, commitment year 2023, and package b) bird welfare payments, commitment year 2023, can access loans on FNGCIMM guarantees.
In order to qualify for the guarantees, the SMEs, as defined by law, have to meet financier's eligibility criteria, hold certificates issued by APIA, not be in financial difficulty and not have guarantees from other guarantee funds for the funds accessed.
The National Credit Guarantee Fund for Small and Medium-sized Enterprises (FNGCIMM) is a non-banking financial institution established to facilitate access of SMEs to funding by providing guarantees for funding instruments contracted from commercial banks or from other sources. AGERPRES
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