FNGCIMM signs conventions with six banks for guaranteeing loans granted to APIA beneficiaries


The National Fund for Loan Guarantee for SMEs (FNGCIMM) signed conventions with six financiers for guaranteeing the loans accessed by the Agency for Payments and Interventions in Agriculture (APIA) beneficiaries, the Single Area Payment Scheme (SAPS) 2014, shows a Fund release remitted to Agerpres on Wednesday.

‘Starting today [on Wednesday], farmers will be able to access loans, benefiting from the FNGCIMM, with the aid of one of the six partner banks: CEC bank, Carpatica Commercial Bank, Romanian Commercial Bank, Transylvania Bank, UnicreditTiriac Bank and Garanti Bank, with other banks being scheduled to join in over the coming days,’ the Fund’s release shows.

Following the new conventions signing, the customers of the aforementioned banks can benefit from the Fund’s guaranteeing up to 80 per cent of the loan.

The guarantee is granted to beneficiaries at the banks’ request, based on the loan file, without any additional documents than those requested by the bank being needed, the release also shows.

‘To benefit from the FNGCIMM guarantee, the producers in agriculture must rank within the SMEs category and can be organised as legal entities, registered sole traders, individual enterprises or family enterprises. Moreover, they must observe the financiers’ eligibility criteria, hold APIA issued certificates, they must not be in financial difficulty, in the sense of the provisions of the European Commission Communication, and they must not benefit from guarantees from other guarantee funds for the same funding,’ the cited release underscores.