Miro Bank progresses toward growth

Miro Bank continues its expansion strategy on the Romanian market by broadening its banking product and service range besides enlarging its network. As of this year, Miro Bank has included ROL loans of up to 2,500 euro equivalent and repayable in no more than 18 months in its offer. This type of loan is accessible to freelancers, professionals, family associations and trading companies that have been dealing in trade, production or services for at least 3 months. The guarantees required in this case may be real estate, securities or guarantors. Also this year, Miro Bank introduces two new products, the overdrafts and the lines of credit (which are a different concept that the regular credit). The overdraft may be worth no more than 25,000 euros in ROL equivalent and matures in up to 6 months. The amount the client can get in this case depends on the amount of time they had an active current account with Miro Bank and the volume of credits run through that account in the previous 3 months. The lines of credit are aimed at micro, small and medium-sized private businesses dealing in production or sale of goods and services, which have had at least a year in crediting history with Miro Bank. The lines of credit are used to sustain the working capital needs of the client and may be worth up to 50,000 euros (ROL equivalent) and mature in up to 12 months. ZF