EnglishMortgage Capital Group (MCG), a financial consultant, intends to broker mortgage loans in the amount of 80 million EUR by the end of 2008. The company was established in September 2007 and is focusing exclusively on mortgage loans for both consumers and companies.
"We believe we are going to have some 1,500 consumer customers and 100 corporate customers by the end of 2008," said Bogdan Furnica, one of the two shareholders in the company. For starters, MCG operates only in Bucharest, but plans are to expand to ten other Romanian cities in the next few months. Staff comprises 10 full-time consultants and 15 part-time consultants. The start-up investment was 100,000 EUR.
"We believe the Romanian markets still offers significant opportunities for this business sector. Brokered loans account for 40% of the overall loans in the EU and for only 5% in Romania," Furnica added.
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