CEC Bank has been selected by the Ministry of Economy, Entrepreneurship and Tourism (MEDAT) as a partner credit institution for the implementation of the Start-Up Nation Romania Programme – 2024 edition, part of the National Recovery and Resilience Plan (PNRR), which aims to support entrepreneurs through non-reimbursable financing and advantageous loans.
According to a CEC Bank press release sent to AGERPRES on Monday, the main objective of the programme is to develop entrepreneurial skills and improve the economic performance of beneficiaries by establishing new SMEs, with an emphasis on digitalisation, sustainability, entrepreneurial training, sustainable development and job creation.
CEC Bank will support the implementation of investment projects by opening grant accounts and granting bridge loans for pre-financing grants and co-financing loans for own contributions under advantageous cost conditions.
„CEC Bank remains a trusted partner for entrepreneurs at the beginning of their journey, providing them with adapted financing solutions and a secure framework for the development of projects. We are thus continuing the tradition of our involvement in the implementation of government programmes dedicated to SMEs, through active and advantageous support,” said Ramona Ivan, director of the National and International Institutions Relations Department, CEC Bank, quoted in the press release.
The features of Start-Up Nation 2024 are: non-reimbursable financial allocation (AFN) of maximum 250,000 lei/beneficiary, representing up to 90% of eligible expenses; own contribution of at least 10% of the total value of eligible expenses; payment mechanism – in a first stage, MEDAT transfers up to 50% of the grant value to the beneficiaries in the distinct grant accounts opened at CEC Bank, the rest of the amount to be regularized by MEDAT upon submission of the final statement by the beneficiaries; eligible expenses – technological equipment, digital solutions, collection, recycling and reuse technologies, energy saving and renewable energy production equipment, as well as other assets necessary for the implementation of projects.
CEC Bank is the financial institution with the longest tradition in Romania. Founded in 1864, the bank currently has the most extensive national network, with over 1,000 branches and territorial units. AGERPRES
