The European Fund for Southeast Europe (EFSE) has provided BT Mic — part of the Banca Transilvania Financial Group — with a loan (the equivalent of EUR 7 million) to improve access to finance for micro and small enterprises in Romania.

“The EFSE–BT Mic partnership is a key pillar in expanding access to finance for small or early-stage businesses, enabling us to support more business ideas and more young entrepreneurs,” said Cristina Sindile, General Manager, BT Microfinantare. Christoph Tiskens, Chair of the EFSE Board, added: “Micro and small companies’ ability to access financing tailored to their needs is crucial for the development of this important sector. Access to local-currency funding protects these small businesses from foreign exchange risk, which can significantly affect their sustainability and success.”

Before this financing, the EFSE Development Facility provided BT Mic with specialized assistance to build institutional capacity for serving micro and small enterprises. EFSE also funded the production of a series of videos featuring some of BT Mic’s clients, which can be viewed here.

To date, BT Mic has supported more than 7,000 micro‑enterprises.