GOVERNMENT DECISION NO. 936/2013 APPROVING THE METHODOLOGICAL NORMS FOR THE APPLICATION OF THE EMERGENCY ORDINANCE NO. 92/2013 ON CREDIT GUARANTEE PROGRAM FOR SMEs

According to the Methodological Norms established by Government Decision, the SMEs can borrow a maximum of Lei 5,000,000 for a period of up to two years, which will be guaranteed by the Romanian state for 50% of the funding.
The funds provided will be used only to finance the working capital and may not be used for the refinancing of other loans in progress.
The loan contracted by SMEs may be extended for a period not exceeding 1 year.

The program will run 3 years

from the date of entry into force of the Methodological Norms, namely until 2016 and the guarantees for the loans taken by the companies may be granted up to a maximum of Lei 2 billion, through the National Credit Guarantee Fund for SMEs (hereinafter FNGCIMM).
The SMEs are required to constitute in favor of the Romanian State a movable mortgage on credit balances of all accounts with the financing Bank valid until the payment of the contracted loan.

Published in the Official Gazette of Romania no. 755 of 12.05.2013
Act came into force on December 5, 2013
Issued by: The Government of Romania