Since the launch in February this year of the Education Loan, BT Mic - part of Banca Transilvania Financial Group - has supported 100 private schools and kindergartens, with a positive impact on more than 6,000 children. The loan provides access, within a few days, to amounts of up to 200,000 lei with a European guarantee, with applications submitted online on the BT Mic website.

• For 85% of customers who took out this type of loan, BT Mic was the business’s first lender.
• The average amount per loan was 100,000 lei.
• 90% of the funding went into investments – renovations, expansion of premises, IT infrastructure and platforms, and other equipment needed to grow the business.  
• The 100 loans supported projects nationwide.

“We reached 100 private schools and kindergartens with this financing solution within just a few months of launch. The fact that almost all of these funds went into investment shows how extensive the sector’s transformation is at this time. That’s exactly why we bring a tailored approach — both in terms of product and in our dialogue with these entrepreneurs — and we intend to stay close to them for the long term,” says Cristina Sindile, CEO, BT Mic.

The loan, with a term of up to 7 years, is intended for kindergartens and schools, regardless of their legal form - SRL, association or foundation - with at least 3 months of activity. Funding can be used for online platforms, licences, applications, employee training, educational events, fit-out and equipment for premises, miscellaneous expenses, etc. No own contribution or collateral is required from BT Mic customers because the guarantee is provided by the European Investment Fund (EIF).

Larger-scale projects, also in education, are financed through Banca Transilvania, under the same guarantee partnership with EIF.

Beyond financing, BT Mic supports entrepreneurs through entrepreneurship education and acceleration programmes, as well as through campaigns and by promoting clients on the BT Mic Blog. A few examples are: What are your plans for your business?, Start online, I’m a BT Mic client too and Buy from a small business.

BT Mic serves companies with annual turnover of up to 1 million lei, across all industries, and has so far supported over 16,000 clients in 3,000 localities.