• The Government, at the proposal of the Ministry of Finance, approved an increase of approximately 2,5 billion lei of the total budget of the IMM Plus Program, raising the total amount to approximately 15 billion lei.
Consequently, the total ceiling of state guarantees issued under the Program increases by 2,22 billion lei, reaching 13,32 billion lei, and the grant budget increases by more than 279,875 lei, totaling 1,68 billion lei.
"This increase in the budget of the IMM PLUS Program responds to the increased demand from entrepreneurs, who have shown a significant interest in this program. The top-up provides the necessary support for approximately 2.000 companies for development and investment. These financial instruments are essential to provide the business environment with the resources needed to develop, create jobs and stimulate innovation. The government remains a reliable partner for entrepreneurs, supporting them in their efforts to contribute to the sustainable economic growth of the country. Thus, we facilitate access to financing, reducing risks and offering them opportunities for expansion and competitiveness", Minister Marcel Boloș declared in the official press release.
Interest from the business environment
This additional budget is necessary due to the high interest of entrepreneurs and local authorities in accessing the program. Until June 30, 2024, out of the guarantee ceiling of 11,1 billion lei, the amount of 7,99 billion lei allocated to FNGCIMM was used in proportion to 96,28%, the amount of 2,01 billion lei allocated to FGCR was used in proportion to 98,62%, and the amount of 1,1 billion lei allocated to the FRC was used in proportion to 27,53%.
By approving these measures, access to loans for investments and working capital will be allowed for another 2.300 new beneficiaries, raising their total number to 13.800, from the 11.500 initially foreseen in the IMM Plus budget.
According to the legislation in force, the budget of a state aid scheme can be increased by up to 20% without notifying the European Commission. The IMM PLUS state aid scheme was authorized by the European Commission on April 8, 2024. Interest payments are made quarterly for the previous quarter, until July 31, 2026 inclusive.
Aid in the form of loan guarantees
The program offers state guarantees of up to 90% of the financing value, excluding interest, commissions and other bank costs related to the guaranteed loan, for one or more loans intended for investments and/or working capital.
The maximum amount of financing granted to a beneficiary is 5.000.000 lei for loans/credit lines for working capital and 10.000.000 lei for investment loans, with the exception of beneficiaries in the field of primary agriculture, aquaculture and fish farming, where the maximum amount is 5.000.000 lei.
Grant aid
Beneficiaries who have contracted investment loans and/or loans/guaranteed credit lines benefit from a grant that covers the risk fee, the administration fee and the related interest for a period of up to 12 months, but not more than the equivalent in lei of the sum of 2.250.000 euros per enterprise, respectively 280.000 euros for beneficiaries from primary agriculture and 335.000 euros for those from fishing and aquaculture. For UATs, the grant cannot exceed the equivalent in lei of 2.250.000 euros.
The components of the IMM PLUS Program
The IMM ROMÂNIA PLUS component facilitates the access of SMEs and small businesses with medium market capitalization to loans for investments and working capital, including for the refinancing of other loans or the acquisition of shares and shares.
The AGRO PLUS component is aimed at SMEs and small mid-cap companies in agriculture, fisheries, aquaculture and the food sector.
The IMM PROD PLUS component offers government guarantees to ensure liquidity and finance the investments of SMEs, including start-ups in the productive sectors.
The CONSTRUCT PLUS component aims to provide guarantees for energy efficiency improvements and green energy investments by SMEs, small mid-caps in construction, start-ups, architects and architectural offices, as well as UATs.
The RURAL PLUS component provides guarantees for investment loans and working capital loans/credit lines to farmers, SMEs and large enterprises in agriculture, fisheries, aquaculture and the food sector.
The INNOVATION PLUS component offers government guarantees for innovative Romanian companies and/or those promoting their products and services for export.
Article source: Press release
Article written by Gabriela Dan, Editor of Arta Albă
Read on White Art and: Consumer Trends 2024 – Euromonitor study
