FINANCING TOOLS FOR SUPPORTING SMEs IN ROMANIA

One of the most important ways for the development of SMEs’ businesses is the credits from commercial banks and non financial institutions. The SMEs’ financing through credits depending mostly by its possibility to mortgage and in this way a major role for supporting SMEs is given by Guarantee Funds. In Romania the existence of the Guarantee Funds is the expression of the State assistance for small and medium businesses or for sensitive fields (e.g. agriculture). Also, in the current context of global crisis, the Romanian government is planning to capitalize the two State banks (Eximbank and CEC bank) to offer new credit and guarantee instruments for SMEs. Other ways to finance the businesses available for the SMEs in Romania are the European non-reimbursable funds for the development of micro-enterprises, the SMEs’ growth through: productive investments, access to financing and consultancy services, access to international markets, implementation of international quality standards, access to the results of research and development activities, facilitating cross-border co-operation, etc. The accessing these finance instruments requires the own contribution of the beneficiaries, so the credits from banks or other financial institutions and the guaranteeing these credits are needed, too.