• The BT Start-Up Nation package includes: a bridge loan, a current account, an account with the first year free, access to training and a facility to build the start-up’s online presence ●

Banca Transilvania supports entrepreneurs under the Start-Up Nation Programme through the BT Start-Up Nation package, and is one of the banks selected by the Ministry for Business Environment, Commerce and Entrepreneurship to disburse the non-reimbursable grant funding.

The Start-Up Nation programme aims to stimulate company formation and encourage enterprising individuals. On July 31 this year, the collaboration agreement between the Ministry for Business Environment, Commerce and Entrepreneurship and the partner banks was signed to implement the 2017 edition of Start-Up Nation, following the application period for start-ups that ran in June–July this year.

BT statement:

Omer Tetik, Chief Executive Officer, Banca Transilvania: “The entrepreneurs in the Start-Up Nation programme have our support, as the bank of enterprising people. The package of services accompanying the bridge loan brings together the best we have today at BT for young companies. It’s a very attractive start: a government grant, a fixed interest rate for the life of the loan and additional services. We also understand very well that the main challenge remains with the entrepreneurs — those who launch these businesses, create jobs and invest personal resources. The programme launched by the Ministry for Business Environment, Commerce and Entrepreneurship is a very welcome initiative that will contribute to the country’s economic development. We wish both the entrepreneurs and the programme’s partners every success and businesses that stand the test of time.”

Details of the BT Start-Up Nation package:

• For entrepreneurs awarded funding under the Start-Up Nation programme
• Includes the following products and services:

                 - Bridge loan

                 - Current account with BT

                 - Account with the first year free

                 - Enrolment in BT Club and free access for one year to courses, training and events

The Go Online facility: the option to build a business presentation website or your own online store

• The bridge loan is designed to cover eligible current expenses under the business plan in the financing programme until the tranches of the non-reimbursable aid of up to 200,000 lei (approximately 44,000 euros) are disbursed. Interest, BT fees and the loan guarantee fee charged by the National Credit Guarantee Fund are eligible costs under the grant.
• Fixed interest on the BT bridge loan: 3.9%; Arrangement fee: 0.75%; Monthly administration fee: 0.08%.

According to the Ministry for Business Environment, Commerce and Entrepreneurship, over 19,000 entrepreneurs have submitted funding applications, totalling approximately 3.7 billion lei and implying the creation of approximately 45,000 jobs.

For Banca Transilvania, participation in the Start-Up Nation programme is another opportunity to stand by entrepreneurs, as well as to be a partner in the largest government programme supporting SMEs in Romania.