Press releases
Government, through the ODIMM financial mechanisms, facilitates access to finance for young people
For 2022, the Organisation for the Development of the Small and Medium-sized Enterprises Sector (ODSME) provides several entrepreneurial support financial instruments to help young people start or grow businesses at home. ODIMM Acting Director Dumitru Pîntea said today in a press conference that young people can access non-repayable funding, grant loan and state guarantees on commercial bank loans.
Thus, through the Programme ‘Start for Young people: a sustainable business at home”ODIMM will provide grants of up to RON 200 thousand for young business starters. The State funding will constitute up to 70 % of the value of the investment project and the young person will contribute only 30 %. The programme is to be extended for a further period of 3 years and the financial support will be increased from RON 180 thousand to RON 200 thousand.
Another mechanism for young people is the Partial Grant Credit Programme. In order to facilitate young people’s access to financial resources for business development, Youth Start: a sustainable business at home it is in the process of being filled in with a new component – Grant Split Credit. It will combine ODIMM grant funding and advantageous lending resources offered through commercial banks and the External Assistance Project Management Office (OGPAE). The amount of the financial envelope will reach up to RON 1.7 million and will include the reimbursable loan portion of 85 % and the grant portion of 15 %.
At the same time, young people have the chance to access credit from 11 commercial banks under the ODIMM guarantee. In the current year, companies founded by young entrepreneurs and applying for credit from any commercial bank can benefit from financial guarantees from Loan Guarantee Fund for the SMI with a maximum amount of up to RON 5 million, covering up to 80 per cent of the amount of credits contracted. At the same time, young people were exempted from paying the guarantee fee for the first year of action of the guarantee.
The full video conference can be followed by: https://bit.ly/3wnzR3d
For more details, please contact:
Business Assistance and Consultancy Centre + 373 22 225 799
Communication Directorate: