Community Habitat Finance (CHF), the Romanian branch of Community Habitat Finance International - a nonprofit American organisation, launched a finance programme for small- and medium-sized enterprises (SMEs) of US$20m for the next 5 years. The funds come from different American institutions, USAID being one of them.
“The SMEs’ request for loans is very high and sometimes banks’ offers are not flexible enough both from security and promptness point of view” says Monica Misca, the PR director of CHF Romania.
The loans are granted in US dollars, and a maximum amount of US$20,000 per company can be loaned for tenor between three month and two years, with interest of 16%-19% and commission of 2%-4%. Security should cover 120% of the loan value and are pledges and mortgages over the company’s assets are generally requested. The loan application does not ask for a business plan and the loan is granted in a maximum of one week.
