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ROMANIA: Nonrefundable Grants for SMEs and Freelancers 

posted 3 years ago

With an aim to support mainly small and medium-sized companies (“SMEs”) given the economic turmoil caused worldwide by the COVID-19 pandemic, Romania recently released the Governmental Emergency Ordinance no. 130/ 2020 (“GEO”) establishing the terms and conditions under which Romanian SMEs and certain individuals can receive nonrefundable grants from external funds. Such support can be accessed latest by end of this year and shall be disbursed on a “first come, first served” basis.

1. Who can benefit from such support?

The financial support is aimed for (i) SMEs, as defined by the law, (ii) non-governmental organizations (Rom. organizatii non-guvernamentale, “NGOs”), (iii) freelancers (Rom. persoane fizice autorizate, “PFAs”) and (iv) individual medical practices (Rom. cabinete medicale individuale, “CMIs”).

2. What kind of support can be accessed?

The GEO sets up the following forms of financial support:

a. Microgrants

One-time lump-sum microgrants of EUR 2,000 can be accessed by the following beneficiaries:
• SMEs with no employees at December 31st, 2019;
• PFAs and NGOs conducting certain business activities as detailed in the GEO;
• PFAs and CMIs operating in the fields of transport, equipment, evaluation, diagnose and treatment of COVID-19 patients.

b. Working capital grants

Depending on their turnover, SMEs can access grants for their working capital in the following amounts:
• EUR 2,000 if their 2019 turnover ranged between EUR 5,000 and 13,500;
• 15% of the turnover, if their 2019 turnover ranged between EUR 13,501 and 1 million;
• EUR 150,000, if their 2019 turnover exceeded EUR 1 million.
15% of the grant value must be provided by the applicant as own contribution.

c. Investment grants

Such grants ranging between EUR 50,000 and 200,000 can be accessed following the assessment of an investment project drafted and submitted by the applicant and are also conditioned by the applicant making his own contribution of 15% to 30% (depending on how well developed the region from which the applicant stems is).

Clear and detailed terms and conditions for accessing the aforesaid financial support and for the use of the moneys so received are established in the GEO and the subsequent guides issued in the meantime.

More information in the link below:
https://stalfort.ro/wp-content/uploads/2020/10/220201022_NEWSFLASH_Financial_support_for_SME_from_external_non-reimbursable_funds.pdf

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