Austria's Erste Group, Two Associates To Grant Loans To Romanian Small Entrepreneurs

good.bee Holding, a joint-venture made up of Erste Fundation and Erste Group, launched in Romania good.bee credit IFN SA in partnership with the Center for Economic Development Foundation.

"The new company (…) will offer micro-loans and consultancy for clients that do not benefit from traditional bank services, as well as to small entrepreneurs in rural areas and small cities, through ten regional offices in 21 counties. (…) Banks are usually reserved or have limited interest in granting loans to small entrepreneurs," good.bee Holding said in a news release.

About 45% of Romania's population live in rural areas, and over eight million people do not have bank accounts, which makes Romania a very profitable market for good.bee, good.bee Holding Vienna president Sava Dalbokov said in the news release, adding Romania is the first country where the company starts micro-financing activities.

Erste Group, owner of Romania's largest lender BCR, is one of the biggest banks in Central and Eastern Europe. Erste Foundation, shareholder of Erste Group, and its several partners are unfolding three programs for social, cultural and European development.

The Center for Economic Development Foundation is a non-governmental non-profit organization dealing with specialized consultancy for private small businesses in Romania.

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