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Romania’s govʼt guarantees leasing contracts for SMEs

Romaniaʼs small- and medium-sized companies (SMEs) can buy equipment and machinery under leasing financing, with state-guarantees, local media reported, citing a government ordinance for the IMM Leasing program, published in the Official Gazette on July 24. 

The maximum financing guaranteed under the program is RON 5 million (EUR 1 million), business paper Ziarul Financiar reported.

The guarantee extended by the state accounts for 80% for the purchase of IT equipment and 60% for machinery or transport means for freight or passengers.

The companies will not be required to put up front payment, and the contracts will have a duration of up to five years. The state will subsidize half of the interest costs as well.

The program aims to help Romanian companies buy equipment that is a prerequisite for competing for public infrastructure programs, said Dumitru Nancu, head of the national credit guarantee fund for SMEs, which handlesthe  IMM Leasing program, Romania-insider said.