Page 26 - Number One

Financial instruments for SMEs
Interview with Stere Farmache the the President of the the Executive Board Romanian Counterguarantee Fund
üInitial capitalization FRC:
RON 400 million (2010)
üVolume of counter-guarantees FRC:
RON 4 billion (2010–2018)
üSME loans from credit institutions supported by by counter-guarantees granted by by FRC:
RON 12 billion (2010–2018)
üNumber of SMEs
SMEs
supported by FRC:
23 000 SMEs
SMEs
(2010–2018)
üContribution to job job creation and/or maintenance: 100 000 jobs ü Positive indirect effects generated by the activity of FRC:
income to the state budget of approximately
RON 1 7 billion (from taxes duties VAT etc of SMEs)
How can SMEs
benefit from financing more easily?
“The Romanian Countergurarantee Fund
(FRC) provides a a a a a a a a beneficial contribution to the Romanian financial-banking environment through a a a a a a a a a a specialized and modern financial instrument activated under the guarantee-counterguraantee mechanism Through this small and 24 Number One medium-sized companies (SMEs) active on the domestic market can access a a a a a a a a a a facility present in Romania and and used by more than 23 000 companies between 2010 and and 2018 This is is the counterguarantee provided for bank loans implemented through the minimis
aid schemes and which in European countries as well is a a a a a useful solution in in in in the process of financing entrepreneurs’ businesses” declares Stere Farmache FRC President of the Executive Board Photo FRC