Cristina Sindile, CEO of BT Mic, in her latest interview with Ziarul Financiar, discusses the role of BT Mic and Stup—both initiatives of the Banca Transilvania Group—in their mission to support entrepreneurs at the start of their journey.

The interview in numbers:

• BT Mic has granted 30,000 loans over the last 5 years, nationwide.
• 8 out of 10 businesses take their first business loan from BT Mic.
• 1 out of 3 BT Mic loan applications was submitted online.
• The average loan is 15,000 euros.
• Stup has built a community of 25,000 entrepreneurs.
• 1 out of 3 Stup products is digital.

BT Mic:

• BT Mic’s interaction with entrepreneurs is natural—human and efficient at the same time. We try to understand the business above all in terms of outlook and future plans: how the entrepreneur intends to implement a development plan, and how they see scaling. I don’t think we look at a business differently from lenders in general; however, once we’ve obtained the information, the way we take it on and work with it internally, the way we bring it into the decision-making level, is different. We assess certain elements differently so we can structure financing within a business, relying much more on what that business can become than on what it is at the moment we analyze it.
  
  
• In 5 years we have managed to grant around 30,000 loans across the market. We believe that’s a good number, in line with what we set out to do. But it’s not just about the number of loans; it’s also about how we operationalize our strategy, which is about access to finance and financial inclusion. Beyond these loans, it’s important to note that 8 out of 10 businesses take their first business loan with us.
  
  
• 1 out of 3 loan applications came online, which is an extremely positive trend. We are present online—more and more so—and the company’s development plans are headed in this direction because we see a growing appetite among entrepreneurs to use online products and services.
  
  
• At BT Mic, the average loan is 15,000 euros. But BT Mic loans are all big, because their impact is very significant, and that’s something we watch very closely—we don’t want to extend credit just for the sake of it. We want to provide loans that have a real impact on a business, that add value and support development, while also offering the comfort of being able to manage the loan.
  
  
• For us, the first loan is just the beginning of a strong relationship and a long-term partnership. We stay close to entrepreneurs and, in turn, whenever they have a plan or an idea, they come back to us—often just to consult—and, if needed, for another loan. There are many examples of how we’ve built this kind of partnership after starting the relationship with entrepreneurs (e.g., developing multiple locations, diversifying the business, etc.). But every time, we take care not to overburden cash flow, to avoid over-indebtedness; we are, and want to remain, a responsible lender

Stup: Every day, a business is born here

• Stup does pretty much everything an entrepreneur needs, especially at the very beginning. That’s where the idea started: to bring several solutions and tools together in one place, to arrange them in a space where entrepreneurs feel comfortable, come to get answers to their questions and find practical solutions for their plans.
  
  
• Very concretely, if you have a business idea, with us you can put it into practice. We provide the solutions needed to set up and grow the business, get you ready for e-Factura, you can take up an accounting service, and we ensure online visibility through an online shop or a website, etc.
  
  
• The digital trend shows clearly in Stup. Here we equip businesses with digital solutions, and 1 out of 3 products is digital—whether we’re talking about electronic signatures, digital invoicing, online stores—solutions that prepare entrepreneurs for a different way of growing their business. Depending on the type of business and on entrepreneurs’ business and development plans, we can go further and build the digital infrastructure for the online environment.
  
  
• The need for networking—for meeting one another, getting information and doing business together—is growing. We see this every day: in less than two years we’ve brought together more than 25,000 entrepreneurs in the Stup community, of whom more than half have been here in person.
  
  
• Every day, a business is born at Stup. Looking at the businesses launched here, in the first 2-3 months they already access about 4-5 business solutions. Early-stage entrepreneurs find the services they need here: accounting solutions, advisory—especially tax advisory, which is very complex and hard to digest—accounting solutions, digital invoicing solutions, electronic signature. As businesses grow, we move on to online exposure, marketplaces, marketing campaigns—all the tools designed to help them increase sales—and we also provide advisory in other areas.

The full interview is available here. Enjoy ☺️