CEC Bank has extended since February until now SME loans with state’s guarantee of RON 2 M out of the RON 520 M available in two years since the entry into the Governmental Programme of Guaranteeing Loans for Small and Medium-sized Enterprises, according to a press release issued by the bank. ‘In February 2014, CEC Bank and the National Fund for Guaranteeing SME Loans (FNGCIMM) signed the Cooperation Convention under the Programme of Guaranteeing Loans for Small and Medium-sized Enterprises, developed in accordance with the provisions of GEO 92/2013. According to the convention, CEC Bank benefits in the next two years from a guarantee ceiling of some 260 million lei, through which SME customers can access loans of over RON 520 M under advantageous and guarantee conditions,’ mentions the bank’s release. The bank is currently analyzing loans of around RON 4 M. ‘The SMEs have at least three years since establishment can take out from CEC Bank credit lines in lei to finance working capital of up to 5 million lei over a maximum period of 24 months, with possibility to extend them up to 12 months. The facility can be guaranteed by the state through FNGCIMM in a percentage of maximum 50 per cent of the loan’s amount,’ according to the bank’s release. The costs related to financing are advantageous, being made up of ROBOR three-month interest rate plus 2.5 percentage points per year, the management fee of 0.04 per cent per annum applicable monthly to the initial value of the credit line and the collateral assessment fee.