Value of requests for guarantees for loans taken out by SMEs doubles

Requests for guarantees for loans taken out by SMEs doubled in January this year against the same time last year, with guarantees worth almost 26 million euros (110 million RON) being granted to 230 companies in sectors that include services, the food industry and the manufacturing industry. “Requests for loan guarantee by SMEs doubled in January, with the value of loans taken out amounting to 40 million euros (170 million RON), according to our calculations,” said Aurel Saramet, chairman and chief executive officer of the National Guarantee Fund for SMEs (FNGCIMM). However, Aurel Saramet added that January is the month with the lowest number of guarantee requests, compared with the other months of the year. Although the rejection rate for requests was 14%, compared with 8% last year, the guarantees offered were larger. The companies that request guarantees from the guarantee fund do not have the necessary means to guarantee the loans, he specified. “Less than 70% of the annualised average monthly requests are recorded in January, and we hope our beginning-of-the-year growth to be maintained over the course of this year,” he also said.