FNGCIMM Signs Guarantee Agreements to Support Refinancing for IMM PROD and GARANT CONSTRUCT Loans

The National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM) has announced the signing of guarantee agreements with BRD Groupe Société Générale, BCR, Banca Transilvania, CEC Bank, and Libra Internet Bank. These agreements aim to provide guarantees for the refinancing of loans granted under Government Emergency Ordinance (GEO) No. 24/2022, as part of the IMM PROD and GARANT CONSTRUCT support programs.

✅ What Does This Mean for Entrepreneurs?

Entrepreneurs who obtained loans from any of the five aforementioned banks under IMM PROD or GARANT CONSTRUCT can now benefit from FNGCIMM guarantees for new financing aimed at refinancing existing working capital loans or credit lines, including those still ongoing either with the original or a different participating bank.

Important: The refinancing excludes investment loans and is limited to principal amounts – interest, bank fees, and other due amounts under the original credit contracts are not eligible for refinancing.

💡 Objective: Financial Continuity for Romanian Entrepreneurs

This initiative allows beneficiaries of post-pandemic state support to restructure their obligations, with guaranteed refinancing that strengthens liquidity, simplifies credit structures, and avoids payment defaults.

🔐 Guarantee Terms and Conditions

• Maximum guarantee value: RON 4,000,000
• Maximum duration: 36 months
• Repayment schedule: Monthly installments in the last 24 months of the guarantee term
• Guarantee coverage: Up to 80% of the financing value

👥 Eligibility Criteria

Eligible applicants include SMEs, sole proprietors (PFA), family/individual enterprises, start-ups, and liberal professions engaged in production activities, who meet the following conditions:

• Not in financial distress or insolvency
• No litigation against the Ministry of Finance, FNGCIMM, or the Financing Bank
• No outstanding credit incidents with FNGCIMM
• No state aid recovery decisions
• No overdue loans reported in the Credit Risk Central (CRC) in the last 12 months
• No major payment incidents reported in the Payment Incidents Register (CIP) in the last 12 months
• No outstanding tax obligations or active account garnishments
• Positive equity in the most recent fiscal year
• 2024 balance sheet submitted
• Eligible under internal credit regulations of both the bank and FNGCIMM

Applicants must also provide collateral to ensure 100% coverage of the financing, in combination with the FNGCIMM guarantee. For loans up to RON 500,000, only basic guarantees are required: account pledges and personal guarantees.

🌍 Strategic Benefits

🧾 For Entrepreneurs

• Longer repayment periods
• Avoidance of arrears
• Simpler credit structure
• Improved cash flow

🏦 For Banks

• Effective credit risk management
• Opportunity to retain and support clients
• Portfolio stabilization
• Active involvement in economic resilience

💼 For the Economy

• Support for business continuity
• Preservation of jobs in strategic sectors like construction and manufacturing
• Reinforcement of a sustainable economic recovery

🗣️ Catalin Leonte, General Director, FNGCIMM: