EFSE and BT Mic join forces to provide local currency financing for Romanian MSEs

The European Fund for Southeast Europe (EFSE) has provided BT Microfinanțare (BT Mic), part of Banca Transilvania Financial Group, with a second loan in Romanian leu equivalent to EUR 7 million to expand access to local currency finance for micro and small enterprises (MSEs) in the country.

BT Mic focuses on financing MSEs: a largely underserved segment in Romania but a key contributor to employment and economic growth. The company has grown dynamically since its foundation in 2016 to become the largest microfinance institution in the country – financing more than 10,000 entrepreneurs. BT Mic has been an EFSE partner lending institution since December 2018, benefiting so far from both dedicated financing and tailored technical assistance aimed at increasing the company’s institutional capacities in serving MSEs and its visibility among local entrepreneurs.

EFSE Board Chairman Christoph Tiskens said: “We are proud to be supporting BT Mic. EFSE recognises the crucial role MSEs play in developing the economy of Romania; the new loan facility will allow BT Mic to provide financing to more than 800 growing businesses in their own local currency, thus protecting them from exchange rate risk.”

BT Mic CEO Cristina Sindile said: “EFSE decided to join us in this journey more than one year ago, and now we are glad to expand our collaboration. We share the same vision and goals with regard to the MSE sector and we aim to contribute more to its development through a sustainable lending approach.”