BT Leasing, a Banca Transilvania-owned leasing company, will receive a $22.6 million loan from the European Bank for Reconstruction and Development (EBRD) to enable a wider range of micro, small and medium-enterprises (MSMEs) to have access leases.
“The EBRD is committed to supporting the development of the leasing market in Romania as part of its efforts to broaden access to finance for local companies,” Matteo Patrone, EBRD regional director for Romania and Bulgaria, said in a press release. “These new funds, channeled through our longstanding partner BT Leasing, are aimed at small businesses across the country where financing is needed most, in particular outside Bucharest and other large cities.”
BT Leasing will use the loan to continue its focus on MSMEs, with a particular emphasis on businesses located outside of major metropolitan arease. The firm has received $51 million from the EBRD to support its efforts.
“Through this new facility we intend to support the development of as many MSMEs in Romania as possible, the more so as financial leasing is the easiest form of financing for MSMEs,” Ionut Morar, BT Leasing general manager said.
In Romania as a whole, the EBRD has financed nearly 400 projects with approximately $8.5 billion in funding.