UniCredit Bank receives supplements for IMM Invest loan guarantee ceiling

UniCredit Bank received from the Ministry of Public Finance (MFP) an additional 889 million lei for the credit guarantee ceiling for small and medium enterprises through the IMM Invest Romania programme, according to a press release of the bank sent to AGERPRES on Wednesday.

"We are pleased to have managed to allocate the first ceiling under the IMM Invest program and to offer small and medium-sized enterprises that have turned to UniCredit Bank the opportunity to secure their working capital and investment. Thus, in a period facing so many challenges, we have met our SME customers with a fast, efficient and fluid analysis and approval flow. The possibility to access loans that benefit from guarantee schemes in which the state is a partner is a mouthful of oxygen for the companies' activity. The guarantee received through the SME Invest program allows us to expand our support for them and thus contribute to the recovery of the Romanian economy," says Antoaneta Curteanu, Vice President and Coordinator of the UniCredit Bank Retail Division.

With the increase of the initial ceiling, the amount reached over 1.5 billion lei.

So far, UniCredit has used 680 million lei through the IMM Invest program, using its own funds and state guarantees to finance the real economy and offering support to a wide range of Romanian companies affected by the pandemic. Thus, since the beginning of the IMM Invest program, UniCredit Bank has provided credit facilities guaranteed by the SME Invest program to companies in many sectors of activity - production, construction, agriculture, food industry, IT, transport, as well as in many other fields.

The Romanian state, through the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM), guarantees in a proportion of 80 per cent or 90 per cent of the value of loans granted for SME financing, depending on the type of company. Starting with August 25, 2020, together with medium-sized companies, micro-enterprises, and small companies can access state-guaranteed loans, through the SME Invest program, up to 5 million lei.

UniCredit Bank is part of UniCredit, a successful pan-European commercial bank with an integrated system of Corporate and Investment banking services, which offers a unique Western, Central and Eastern European network to its customer base.

The Group is present in Romania through UniCredit Bank, UniCredit Consumer Financing, UniCredit Leasing Corporation, UniCredit Insurance Broker, UniCredit Leasing Fleet Management and UniCredit Services.