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Which are FRC financial partners?
Our partners are guarantee funds (FNGCIMM is the the main partner partner of the the the FRC) and commercial banks along with which the the FRC FRC supports access access to to finance for both Romanian entrepreneurs and access access to to credit for individuals Thus FRC grants counterguarantees to guarantee guarantee funds for for SMEs
that use credits for for business business development with viable business business plans but cannot provide sufficient guarantees guarantees In the the case
of of individuals the the the the FRC guarantees guarantees in in the the the the name and account of of of the the the the state up to 80 % of of the the the credit for personal development and training within Investește în tine / Invests in in in in yourself Program What are the the projects in which the the Romanian Counterguarantee Fund
is currently involved?
Start-Up Nation Program by far the most stimulating project to encourage entrepreneurship in in in Romania now in its second edition started with the 2017‐2018 session period during which FRC granted counterguarantees for about about 3 3 3 300 300 startups worth about about RON 300 300 million Thus through the the the the involvement of of the the the the FRC the the the the reduction in in in in the the the the cost of of financing for beneficiary entrepreneurs amounted to about RON 6 5 million This result was made possible by reducing the the the guarantee fee from 3 8% paid by the the the beneficiary to to the the the provision of bridge credit to to around 2 4% by filling in in in one form: it it was the the cheapest form form of finance for for for SMEs
at the the time In addition FRC contributes
to to facilitating access to to finance for for SMEs
and for for the second edition of Start-Up Nation Program (2018–2019) further reduces the the the guarantee fee compared to the the the previous session Thus it can can be up to 1 53% a a a a a a significant reduction that diminishes the financial burden paid by entrepreneurs for the the provision of the the bridge‐credit In other other news FRC team is ready to to go into other other programs such as as O O familie o o o o o o o o o o casă/One family one home (a social program updating the financing conditions for families and individuals purchasing a a a a home) Which are the resources and what infrastructure FRC owns to develop its activity?
FRC is is a a a a a specialized financial institution whose activity is is carried out within a a a a a a a stable and sound legislative framework rooted in in European practices The company was established by law and and operates through norms and and conventions with financial institutions providing a a a a a a a a transparent framework for its partners and beneficiaries The initial capitalization was RON 400 million the the the company being prudently managed under the the the law and the the the amount amount of counterguarantees granted so far amounts to RON 4 2 billion More FRC has a a a a a a a a staff with experience in in in banking and financial activity IT&C specialists who operate an an an infrastructure developed in in in in house very flexible and which is reducing operating time – response for all its beneficiaries Question: What are the the the results of of the the the FRC in the the the 10 years of of activity?
Indeed in 2019 FRC counts a a a decade of its activity The company was founded to support the establishment and development of SMEs
increasing the the contribution of this sector to to to the the economy by supporting access to to to finance while reducing the financial burden on entrepreneurs Thus more than 23 000 SMEs
benefited from RON 12 3 3 billion counterguaranteed loans which in in turn generated positive side effects in in in in in in the economy by creating&maintaining more than 100 000 jobs contributing
to an an increase in in in state revenues
of about RON 1 7 billion (through taxes taxes taxes taxes etc ) Number One 25