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Bucharest, 20 August 2008
"Agriculture always represented one of the most important sectors of Romanian economy. Even Romania has exceptional primary agricultural resources, because of good climate conditions and agricultural surfaces bigger than European average, agro sector remains still underprivileged. We consider that such an economic sector in continuous development and expansion as agriculture, needs partners who can offer the needed financing sources. Agro Capital IMM is the first step in "Credit Europe Bank - farmers" partnership, being launched in agricultural year's beginning in order to offer the needed working capital for autumn seeding. Credit Europe Bank intends to become a traditional financer for any farmer, developing long term relationships with them, that's why Agro Capital IMM is only a first promise in developing specific products for this domain ", stated Mr. Tamer Ozatakul, President Credit Europe Bank (Romania) S.A.
Agro Capital IMM is a credit line designed to finance any working capital need in agriculture, as well as refinancing loans with the same destination from other financial institutions.
This new product aims to cover current expenses up to harvest sell; financing period can be up to 18 months, having a grace period up to 9 months, depending on activity's specific and on financing moment
Agro Capital IMM is a flexible credit product, adapted to farmers who want to cover current expenses with a credit line. Bank can sustain all expenses related with future harvest, having the advantage to correlate credit line utilization with agro works graphic. Bank is not limited to finance crops, can disburse loans to animal farms or for services providers in agriculture. Loan repayment is flexible; farmers can cover the debt depending on projected encashment period.
Eligible beneficiaries for Agro Capital IMM loan are individuals with Agro Producer status, Authorized Individuals, Familial Enterprises or SME companies (according with bank's internal definitions) which have as activity vegetal crops and animal breeding in order to obtain alimentary products and raw materials or agro services.
First product dedicated to agriculture, Agro Capital IMM, is available for the beginning in Credit Europe Bank branches located in Buzau, Braila, Tulcea and Constanta counties (including Mangalia town). Information about eligibility conditions and necessary documents to access this financing can be obtained from Credit Europe Bank (ROMANIA) S.A. branches situated in respective counties, from bank's website: www.crediteurope.ro or consulting SME dedicated portal: www.crediteuropeimm.ro
Credit Europe Bank (Romania) S.A., member of FIBA group, provides a wide range of products and services to over 400,000 individuals, SME's and corporate customers, through a network of over 100 branches, agencies and working points - a continuously expanding network, as well as through Alternative Delivery Channels: ATMs, POS and Internet Banking.
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