BUSINESS

Raiffeisen Bank extends to SMEs loans guaranteed 70 pc by the EIF

Raiffeisen Bank extends to small and medium-sized enterprises (SMEs) credits worth a maximumEUR 1.025 M, guaranteed in a proportion of at least 70 pc by the EuropeanInvestment Fund (EIF), the institution announced yesterday in a press release. The loans areavailable in RON and EUR, until March 31, 2013 with maturity intervals between 1 and 6years. The credits address companies with up to 50 employees and a turnover under EUR 50M. According to Vladimir Kalinov, vice-president of Raiffeisen Bank, in certain situations theinterest on credits in RON may be even 4 pc lower than the standard interest.

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