BUSINESS

EximBank extended four times more guarantees

EximBank last year registered significant evolutions in all ranges of products, provided on behalf and to the account of the state, with the most dynamic activity sector being represented by guarantees, which reached a volume of RON 1.03 bln, four times higher than in 2008.

“With such guarantees provided by the State, companies were able to access the loans required for the expansion of their business, both as working capital and for major investment projects,” said Ionut Costea, the president of EximBank. An important role in achieving these results was played by the simplified procedure of extending state guarantees up to EUR 1.5 M, along with the management decision that shortened the answering interval to 10 days, from one month in the past, added the EximBank official.

EximBank provides a wide range of products directed at companies that need of a loan or a letter of bank guarantee, but do not avail of enough collaterals. The Bank can issue guarantees to:

– exporters – in completion of company guarantees extended in favour of the financing bank;

– SMEs and other kinds of companies– facilitate the access to financing, in completion of the guarantees required by development and upgrade loans, covering the risk of payment default;

– priority economic sectors – warrant of loans or letters of bank guarantee extended for Romanian investments abroad, the development of infrastructure, of public utilities, environment protection, personnel occupation and training etc.

Besides guarantees, EximBank also provides a substantial financing package consisting of standard loans for current business or investments, as well as specific products that fall within the range of state aid: credits at subsidised interest rate and partial interest offset, which allows the recovery of up to 50 pc of the interest paid for RON-denominated investment loans engaged with other banks.

Related posts

Croitoru, BNR: Companies in insolvency no longer manage to recover

Nine O' Clock

Railway workers won’t go to work

Nine O' Clock

Amsterdam-born creative workspace pioneer SPACES opens its first two locations in Bucharest

Nine O' Clock

Leave a Comment