EFSE and BT Mic Join Forces to Provide Local Currency Financing for Romanian MSEs
The European Fund for Southeast Europe (EFSE) has provided BT Microfinanțare (BT Mic), part of Banca Transilvania Financial Group, with a second loan in Romanian leu equivalent to EUR 7 million to expand access to local currency finance for micro and small enterprises (MSEs) in the country.
BT Mic focuses on financing MSEs: a largely underserved segment in Romania but a key contributor to employment and economic growth. The company has grown dynamically since its foundation in 2016 to become the largest microfinance institution in the country – financing more than 10,000 entrepreneurs. BT Mic has been an EFSE partner lending institution since December 2018, benefiting so far from both dedicated financing and tailored technical assistance aimed at increasing the company’s institutional capacities in serving MSEs and its visibility among local entrepreneurs.