Back to COVID-19 bussiness support
The Ministry of Finance is to guarantee up to 80% of the value of financing granted to SMEs (or 90% in the case of small businesses and micro-enterprises).
The maximum value of the credits to be awarded for the financing of working capital cannot exceed average expenditure on working capital for the last two fiscal years and is capped at RON 5 million (or RON 500,000 or RON 1 million for micro-enterprises and small businesses, respectively). The investment loans and the working capital loans can be cumulated, the maximum value of financing will be RON 10 million.
The loan guarantee period for working capital is to be set at 36 months (extendable by a further 36 months), while for investments it will be 120 months.
The Ministry of Public Finance will waive the interest accrued on the loans to be guaranteed, valid from the moment the loan is granted until March 31st, 2021 (or later in the case of extension).
All outstanding fiscal obligations and other debts to the state budget will be paid from the working capital loans granted under this program.
Source: Government Emergency Ordinance no. 42/2020 to amend and supplement Government Emergency Ordinance no. 110/2017 on the SME INVEST Support Programme for small and medium-sized enterprises and to approve the State Aid Scheme to support the activity of SMEs in the context of the economic crisis generated by the Covid-19 pandemic, published in the Official Gazette no. 283 on 4 April 2020.
Last update: 4 May 2020
