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New financing opportunity : 55.000 Euro for Romanian SMEs operating in the commercial sector

After Start-up Nation, Romanian Ministry of Economy, Commerce and Business Environment will launch a new financing opportunity. This time the programme targets mature SMEs, with at least 1 year of activity.

Commerce Programme will be open for applications starting 16th of August 2017 and aims to promote and support development and upgrade of commercial services and products.

Maximum grant for one project has a value of 250.000 lei (about 55.000 Euro). Annual budget allocated for the programme can support investments for 200 SMEs.
SMEs can get up to 90% of total eligible expenditures (without VAT), but no more than the values mentioned in Annex 2.

We mention below some of the eligible criteria:
Δ At least one activity year since its founding till the date scheduled for the launch of the programme;
Δ Has wholly private capital;
Δ It’s the first time in the last 3 years when receives grants through the Commerce Programme;
Δ Has a net annual turnover of up to 50 million;
Δ Has an average annual employee number of less than 250 in the previous fiscal year;
Δ It did not exceed the minimis ceiling of € 200,000.00 over three consecutive financial years for a single enterprise.

Maximum score can be reached as follows:
Δ Turnover is mainly driven by 2016 earnings in the services (trade) for which the Programme is accessed (over 50%) – 5 points;
Δ SME has an average of at least 3 employees at 31st of December 2016 – 15 points;
Δ The new investment will create a number equal to or greater than 2 jobs – 15 points;
Δ Additional points for at least 2 above-mentioned jobs created for 2 unemployed persons who have graduate after 2012 or who are part of disadvantaged groups* – 10 points;
Δ The share of investments in fixed assets and assimilated inventory objects (…) represents more than 60% of the value of the eligible expenditures included in the investment plan – 15 points;
Δ Age of authorized activity for the NACE code for which the program is accessed is equal to or greater than 12 months – 10 points;
Δ Percentage of the own contribution is higher than 25% of the eligible project value – 20 points;
Δ The company obtained exploitation profit on 31.12.2016 – 10 pct;
*Disadvantaged people defined according to Government Decision no. 799/2014.

After receiving the grant beneficiaries are required to maintain the investments for which they requested the grant and the number of jobs they created as stated in the business plan for at least 3 years.

Open call period: 16th of August 2017 – 29th of August 2017, with the possibility of being extended until the whole budget is spent.

Source: Romanian Ministry of Economy, Commerce and Business Environment