Approval of the financial mechanism for the transfer of grant amounts to support the activity of SMEs

The Order for amending and supplementing Annex no. 3 by the Order of the Minister of Public Finance no. 1,886/2020, regarding the approval of the financial mechanism for the transfer of the amounts related to the grants due to the beneficiaries within the State aid scheme for supporting the activity of SMEs, was adopted.

In the context of the economic crisis generated by the COVID-19 pandemic, the necessary amounts are allocated from the budget of the Ministry of Public Finance to the National Credit Guarantee Fund for Small and Medium Enterprises, based on the model agreement on the implementation of the SMEs support program „IMM INVEST ROMANIA”, of the model of the guarantee and payment agreement of grants, of the guarantee contract, of the signed up, as well as for establishing the level of the risk commission and of the administration commission for 2020.

In the case of investment loans, the State guarantee is constituted by a legal real estate mortgage and/or movable mortgage on the assets financed from the loan, proportionally to the guarantee percentege.

In the case of loans/lines of credit intended to finance working capital, the State guarantee is constituted with a legal mortgage on the credit balances of all the accounts opened by the beneficiaries of the program at the credit institution, in proportion to the guarantee precentage.