Garanti BBVA Leasing signs loan agreement of 7 million Euro with EFSE to finance Romanian SMEs

Garanti BBVA Leasing is expanding financing opportunities for micro and small enterprises (MSEs) in Romania, by signing a loan agreement of EUR 7 million with the European Fund for Southeast Europe (EFSE). The investment aims to boost the ability of this vital business segment to preserve their operations as well as sustain and generate employment and income in light of the COVID-19 crisis.

The new funding will be used to expand the institution’s leasing offer for local small businesses, a segment that has been severely negatively impacted by the economic effects of the coronavirus pandemic. Leasing provides an important source of long-term financing to smaller businesses which may not have the extensive collateral necessary for bank loans.

Okan Yurtsever, General Manager, Garanti BBVA Leasing said: “During these uncertain and challenging times, we continue standing by our clients’ side, as a strong and trustworthy business partner. We are here to support the MSEs with the appropriate leasing solutions for overcoming the current context generated by the pandemic and further develop their companies.  This new agreement reinforces our long-term collaboration with EFSE for supporting Romanian businesses with appropriate financing tools.”