• With the new loan from EFSE, BT Mic continues to facilitate access to financing in RON for small companies.
• Entrepreneurs can apply for financing online on the BT Mic website.
• Since the start of the pandemic, BT Mic has financed over 5,000 companies.
• BT Mic currently works with more than 13,000 small businesses across 3,000 localities.

European Fund for Southeast Europe (EFSE) has extended a new EUR 10 million loan to BT Microfinantare (BT Mic), part of the Banca Transilvania Financial Group. The funding will help BT Mic continue to facilitate access to RON-denominated loans for small companies. The two partners want to help businesses grow, especially in the current pandemic context.

BT Mic and the European Fund for Southeast Europe have been partners since 2018 and have together contributed to the development of more than 1,200 companies. Beyond financing, EFSE and BT Mic joined forces to support companies through the Start online by BT Mic acceleration program, launched in March this year, which provided advisory services for scaling businesses in the digital environment. As a result, 10 online businesses were launched in August this year.

"We are honoured to continue our partnership with BT Mic, which has so far demonstrated our strong commitment to supporting businesses, the backbone of the Romanian economy. Their health is directly linked to a robust economy, and the fact that this loan is in local currency assures entrepreneurs that they are protected from exchange-rate volatility. Given BT Mic's leading position in the market, we are confident that our partnership will have a significant impact in terms of increasing financial inclusion and creating business development opportunities for entrepreneurs across the country," said Klaus Müller, Chair of the EFSE Board.

"Small businesses are particularly vulnerable in the current economic context. At the same time, new business opportunities are emerging that entrepreneurs are looking to seize. That is why, for BT Mic, ensuring their access to financing and advisory remains a priority. Together with EFSE, through this credit line, we are continuing our commitment to support the responsible growth of local small businesses", said Cristina Sindile, General Manager, BT Mic.

Entrepreneurs can quickly apply for a loan via Raul, BT’s chatbot, accessible on the BT Mic website from a phone, tablet or computer.

BT Mic is the largest microfinance company in Romania, complementing Banca Transilvania’s role in supporting entrepreneurs regardless of the size of their business. Since 2016, BT Mic has been part of the story of more than 16,000 microbusinesses with over 45,000 employees in 3,000 localities and has helped expand the reach of microfinance among young firms.

Despite the challenges brought by the pandemic, starting in March 2020 BT Mic has financed more than 5,000 small companies and has maintained maximum maturities, flexible amounts and collateral requirements, as well as a 4-day response time for customers who applied for a loan.

Banca Transilvania Financial Group | BT Mic

About BT Mic: BT Mic is one of the companies in the Banca Transilvania Financial Group, serving firms with annual turnover of up to 1 million RON across all industries. To date, BT Mic has helped more than 16,000 small businesses grow. The company offers more than financing by promoting clients on the BT Mic Blog, with the latest initiatives including Start online by BT Mic, I’m a BT Mic client too and Buy from a small business. www.btmic.ro

About EFSE: The European Fund for Southeast Europe (EFSE), an impact investment fund established in 2005, aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood region by investing in the success of micro and small enterprises, as well as in improving living conditions for private households. Because access to financial services is essential for the development of this segment, EFSE focuses on helping local financial sectors strengthen their capacity to provide responsible finance to this target group. In addition to its investment activities through local partners, EFSE amplifies its impact through the EFSE Development Facility, which provides technical assistance, training and other non-financial support to entrepreneurs and its partner institutions. EFSE was initiated by KfW Development Bank with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public–private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions and private institutional investors. Finance in Motion GmbH, Germany, is EFSE’s advisor, and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as administrator. For more information about the European Fund for Southeast Europe, please visit: www.efse.lu. For more information about Finance in Motion, please visit: www.finance-in-motion.com