Home Small business financing Banca Transilvania SA: BT Mic extends its partnership with the EFSE to increase the financial inclusion of micro-enterprises

Banca Transilvania SA: BT Mic extends its partnership with the EFSE to increase the financial inclusion of micro-enterprises


Communication from presa2021-10-01

  • Thanks to the new loan from the EFSE, BT Mic continues to facilitate access to financing in local currency for micro-enterprises.

  • Entrepreneurs can apply for financing online on the BT Mic website.

  • Since the start of the pandemic, BT Mic has funded more than 5,000 companies.

  • BT Mic currently works with over 13,000 micro-enterprises in 3,000 locations.

The European Fund for South East Europe (EFSE) granted a new senior loan equivalent to EUR 10 million in Romanian leu to BT Microfinantare (Micro BT), which is part of the Banca Transilvania financial group. The investment will allow the institution to expand access to financing in local currency to micro-enterprises. With this new loan, the partners aim to help companies maintain and grow their businesses, especially amid the still ongoing coronavirus pandemic.

BT Mic and EFSE have been partners since 2018 and have contributed to the development of more than 1,200 companies. Beyond funding, BT Mic and EFSE, through its Development Facility, have joined forces to support businesses through an acceleration program called “Start Online” which was launched in March 2021. The program has supported 30 businesses with dedicated advice on how to grow their operations online. , while for 10 of them, online stores were developed and launched in August 2021.

EFSE Board Chairman Klaus Müller said:We are proud of our continued partnership with BT Mic which has shown a strong commitment to supporting micro businesses – the backbone of the Romanian economy. Their financial health is directly correlated with the strength of the economy, and the fact that this loan is in Romanian leu will ensure that entrepreneurs are protected from the ups and downs of exchange rate volatility. With BT Mic’s leading position in the sector, we are confident that our cooperation will have a significant impact in terms of increasing financial inclusion and business development opportunities for entrepreneurs across the country.. ”

Small businesses are particularly vulnerable in the current economic climate, yet new business opportunities are emerging that entrepreneurs seek to take advantage of. Therefore, their access to finance and business know-how remains a priority for BT Mic. Together with the EFSE, this new line of credit underlines our continued commitment to support the sustainable growth of local micro and small businesses., ” said Cristina Sindile, CEO of BT Mic.

Entrepreneurs can quickly apply for a loan through BT’s Raul chatbot, accessible at Micro BT website, by phone, tablet or computer.

BT Mic is the largest microfinance company in Romania, which complements Banca Transilvania’s role in supporting entrepreneurs, regardless of the size of their business. From 2016 to today, BT Mic has been a part of the history of over 16,000 microenterprises with over 45,000 employees in 3,000 locations and has helped expand the reach of microfinance among start-ups.

Despite the challenges caused by the pandemic, BT Mic has funded more than 5,000 small businesses since March 2020 and has maintained maximum funding terms, flexible amounts and guarantees, and response time to just four days for customers requesting a loan.

Banca Transilvania financial group | Micro BT

About BT Mic: BT Mic is part of the Banca Transilvania financial group and targets companies with an annual turnover of up to RON 1 million in all areas of activity. So far, BT Mic has helped more than 16,000 small businesses grow. The company offers more than just financing, promoting customers on the BT Mic blog, the latest initiatives being “Start online with BT Mic”, “I am also a BT Mic customer” and “Buy from a little company “. www.btmic.ro

About EFSE: An impact investment fund created in 2005, the European Fund for South East Europe (EFSE) aims to foster economic development and prosperity in South East Europe and the Eastern Neighborhood region by investing in the success of micro and small enterprises as well as in improving the living conditions of households. As access to financial services is essential to the development of this segment, EFSE is committed to helping local financial sectors build their capacity to provide responsible financing to this target group. Along with its investment activities through local partners, EFSE is multiplying its impact through the EFSE Development Facility, which provides technical assistance, training and other non-financial support to entrepreneurs and institutions. . The EFSE was launched by the KfW Development Bank with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, the EFSE draws its capital from donor agencies, international financial institutions and private institutional investors. Finance in Motion GmbH, Germany, acts as advisor to EFSE and Hauck & Aufhäuser Fund Services SA, Luxembourg, acts as manager. For more information on the European Fund for South Eastern Europe, please visit: www.efse.lu For more information on Finance in Motion, please visit: www.finance-in-motion.com


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