FinComBank S.A. supports Competitiveness Enhancement Project for SMEs through a financing line developed by the World Bank and the Government of Republic of Moldova

FinComBank S.A. supports Competitiveness Enhancement Project for SMEs through a financing line developed by the World Bank and the Government of Republic of Moldova

• 03.06.2015

Competitiveness Enhancement Project, Phase II is intended to finance working capital and eligible investments aimed to develop sustainable economy.

The beneficiaries may be small and medium - direct and indirect exporters *, with an activity for over 2 years in the following fields:

- Agriculture
- Agricultural products processing
- Production
- Other trade-related economic activities and non-consultative services for exporting enterprises.

* Companies whose products are exported by other enterprises

Customers receiving this funding will enjoy the following advantages:
• attractive interest rates;
• free financial and technical consultancy;
• credits in the amount of up to 800 000 USD for investment projects and 500 000 USD for working capital;
• grace period;
• favorable terms:
o up to 8 years for investments;
o up to 4 years for independent working capital.

Mrs Larisa Rudenco, Business Development Department’s Director said:

“In the current economic climate, due to the benefits of project PAC II, our customers can enjoy excellent financing conditions. We know the responsibilities and issues local entrepreneurs are facing daily, and we consider that an important role for each of us is playing an improving competitiveness, reduced costs and percentage rates”.

FinComBank is a SMEs oriented bank. The coefficient of loans to small and medium enterprises constitutes 65.46% of the total loan portfolio (on 30.04.2015).

FinComBank offers its customers specialized business lines and daily operations, investment loans, as for supplementing working capital, salary packages, consumer loans, deposits with attractive interest rates, internet banking, bank cards and other products.

For further information, please contact us:
Central office FinComBank S.A.,

26, A. Puşkin str. mun. Chişinău

Теl.: (+373-22) 269-888
Web site: www.fincombank.com

http://fincombank.md/PAC_II/

FinComBank

FinComBank was established in July 1993 as a joint-stock company. Today it is a well-positioned, highly profitable mid-sized bank with a very professional and dedicated management team. FinComBank provides a wide range of corporate and investment banking services to Moldovan and foreign clients. The Bank’s customers include individuals, micro, small and medium enterprises, representing all the main sectors of the Moldovan economy. However, FinComBank considers being a priority servicing micro- and small business as well as private individual entrepreneurs. 90% of new credits are issued to SMEs. FinComBank’s 17 branches and 67 agencies are located all over the Republic. At present, the Bank has 139 shareholders, 575 employees, and over 110 thousand clients. In August 2007 widely well-known venture Western NIS Enterprises Fund (WNISEF) became one of the major shareholders of FinComBank after purchase of 25 percent of the bank’s shares. Since 1995 the Bank has had its annual financial audits conducted according to international standards initially by Coopers & Lybrand/PriceWaterhouseCoopers), then by Ernst & Young. As a result it has maintained its financial strength by complying with all international standards concerning liquidity margins and capital adequacy required under the Basle Accords. The Bank is one of the founders of the Banking Association of Moldova and the Moldovan Stock Exchange and a member of the American Chamber of Commerce in Moldova (AmCham).