Romanian SMEs Guarantee Fund May Guarantee 80% Of Developers Loans

Romania's SMEs loans guarantee fund FNGCIMM is in talks with several banks for launching a product by which developers’ loans would be 80% guaranteed by the fund, if they signed pre-contracts for 75% of the surface.

10 views

"We are in talks with BCR, Piraeus Bank and Banca Transilvania for a joint project by which the loans taken by housing developers should be 80% guaranteed by the fund if they signed pre-contracts for 75% of the surface. We are ready to negotiate the percentage," FNGCIMM representative Rodica Ionescu told a real estate seminar Thursday.

Ionescu said the product would support developers to finalize the projects, adding that they would also take into account the pre-contracts signed through "First Home" program.

FNGCIMM representative also said that the fund granted so far 5,500 guarantees for "First Home" program, most of them in the capital city, Bucharest. The average value of financing for one apartment is EUR40,000.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.