BCR offers loans with very attractive terms for farmers

Romanian Commercial Bank (BCR) offers short term loans for farmers, based on a partnership signed with the Agency for Agricultural Payments and Interventions (APIA) and the Fund for Guaranteeing Rural Loans (FGCR), according to a press release by the bank.

"BCR grants short term loans for farmers which are due to receive subsidies from the state budget as part of the surface-based financial support schemes, for the vegetable and stockbreeding sector, as part of the national complimentary disbursements for the stockbreeding sector. Interest rates are extremely attractive, going as low as zero in some cases", said Ramona Ivan, executive manager of the Financial Institutions Department of BCR.

At the same time, BCR has concluded bilateral conventions with FGCR in order to guarantee up to 50% of the total amount of these types of loans.

Beneficiaries of APIA subsidies can qualify for loans from BCR intended to provide them with working capital for their day-to-day operations, equal to up to 70% of the subsidies they have not yet collected from APIA as part of the per-area support scheme, respectively 90% of the APIA subsidy uncollected as part of the financial support scheme for the vegetable and stockbreeding activities and for national direct supplemental payments for the stockbreeding sector.

These types of loans can be obtained from BCR by individual or corporate farmers carrying the Farmer Certificate issued by APIA confirming their eligibility for funding.

Beneficiaries of APIA subsidies can apply at any BCR branch for these types of loans.

BCR, part of the Erste Group, is a universal bank which targets retail and corporate customers alike. BCR manages over 17.2 billion Euros in assets.