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May 17, 2022

‘First Home’ progress report: 2,000 contracts approved

The National SMEs Loan Guarantee Fund (FNGCIMM) had processed and remitted to banks guarantee contracts for a total number of 1,950 beneficiaries of the ‘First Home’ programme by last Monday, and is currently working on 656 more applications. The value of the guarantee applications received by the Fund before Monday represents 12.5 per cent of the EUR 1 bln cap set by the Government for the ‘First Home’ programme, according to a Fund press release.

A total of 314 applications have been returned to the banks to be completed, updated or corrected. ‘Some of the participating banks have used over 70 per cent of their allocation, with the four most active banks cumulating about 85 per cent of the total value of the solicited guarantees’, the press release further reads. The Fund representatives met with representatives of the Romanian Banks Association on Monday to find ways to shorten the length of procedures and resolve difficulties in the project. According to the prime-minister, a total of 2,614 loan applications have been submitted to the Fund, of which 1,414 have been processed and 429 only pre-approved, 774 being still in progress.

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