The loan can be reimbursed in monthly installments or seasonal payments equivalent to at least four installments within a year. Procredit also provides grace periods of up to 12 months.

Agroinvest – European Funds financing scheme are available both for farmers and companies operating in agriculture, for investments in machinery and equipment, zootechnics, irrigation equipment, reads the press release.

For loans up to 30,000 euros, with five-year maturity, the contract does not imply any collateral, and for loans above this threshold, the bank imposes real estate security to cover 75%of the loan. If collaterals don’t meet the requirements, the loan may be partially covered with guarantee from Rural Credit Guarantee Fund.

In its lending operations, ProCredit Bank focuses on very small business and small and medium sized enterprises, and not on consumer credit.

In Romania, ProCredit Bank is a specialist microfinance bank established in 2002 with the support of European Bank for Reconstruction and Development, International Finance Corporation - member of World Bank, Commerzbank, KfW, ProCredit Holding (German-based investment bank) and IPC.