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CEC Bank makes credit granting process Start-up Nation flexible

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CEC Bank grants Start-up Nation credits with COSME guarantee at a level of 50% of financing value, according to a bank press release.

COSME Loan Guarantee Facility (COSME LGF) is a guarantee  instrument developed by the European Investment Fund and implemented through CEC Bank, with a view to granting credits to small companies which, under standard conditions, would have limited access to financing.

“Through this action, CEC Bank presents start-up clients with an advantageous product, offered now in more flexible conditions, thanks to COSME guarantee. Another benefit laid at the clients' disposal is the start-up package for small companies, over 80% of clients attracted by the bank in the Start-up Nation program choosing this optional package too,” said Laurentiu Mitrache, general manager-president of the Board of Directors CEC Bank.

We remind the fact that CEC Bank was chosen by the Ministry for Business, Trade and Entrepreneurship as a partner bank for the distribution of the Not-refundable Financial Allocation with a view to implementing and managing funds within the Start-up Nation Program.

Thus the bank grants credits upon the request of beneficiary companies, with a view to covering eligible expenses related to business plans until the issue of aid installments of at least 200,000 lei.

By means of the 48 Counseling Offices for small companies and European Funds existing at the level of CEC territorial network, clients benefit from detailed information on eligibility criteria, guarantees needed to select the best financing products and set up the credit file.

CEC Bank concluded 2018 with a gross profit of 432.97 million lei, the best financial performance in the last 11 year. Bank clients benefit from a national network of 1,214 ATMs and 6,704 POS as well as full Internet Banking, Mobile Banking  and Phone Banking services. CEC Bank is the bank from Top 10 with the most extended territorial network, with 1,024 units, of which 480 are in the rural area.



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