Support measures for small producers and entrepreneurs in the context of coronavirus

In the context of the evolution of the new coronavirus in Romania, Patria Credit IFN continues to be active alongside small producers and entrepreneurs in rural areas with a series of measures aimed at protecting health and supporting them to continue their activity during this period. The institution's lending activity is open and ready to help many rural producers in Romania.

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“We have been supporting small rural producers for over 15 years and we will certainly not stop now or in the aftermath of the pandemic. The digitisation of our services is a larger project that has already been in place since the beginning of the year, now we have taken just a few steps faster. The credit is still open, and we are even launching the new Punte Tomatina Credit, which is a way to support producers to continue their activity while they receive the state subsidies for tomato production. We also have solutions for customers affected by the pandemic, which we want to help producers get through this period with credit restructuring, while at the same time looking for ways to support their business and sales through online solutions. Finding solutions to help our customers is a responsibility we have always taken on, and we will do so even more so now, during this period," says Raluca Andreica, General Manager, Patria Credit IFN.

The measures to protect health, provide, in addition to the reduction of the working hours of the units, at 09:00 – 15:00, and the installation of mailboxes at the entrance îin each unit, where you can collect the documents for credit files already îin work.

Digital solutions are the ones recommended and implemented for both new and existing customers. For accessing new loans, Patria Credit IFN now offers an online lending option, whereby customers are guided by IFN employees to complete the process. For existing customers, Patria Credit IFN recommends using the online payment service for instalments by card directly on the company's website. This new service was implemented at the beginning of this year and is already being used by some of the customers.

The Punte Tomatina loan, a new product adapted to the current needs of small vegetable growers, is launched by Patria Credit IFN, în this context. The loan is aimed at vegetable growers înscrito îin the program to stimulate tomato production and grants, îin advance, up to 70% of the approved subsidy (maximum 10,000 lei). The loan is granted quickly, the money is available within 2 days of applying for the loan and payment is very easy, when the grant is received.

Having a rich experience in microfinance and being one of the strongest and most dynamic non-banking financial institutions in Romania, Patria Credit IFN's activity has recently been recognized by the European Code of Good Conduct, initiated by the Directorate for Employment, Social Affairs and Inclusion of the European Commission, for the quality and impact of the microfinance activity carried out in Romania. More than 160 indicators have been assessed for recognition and Patria Credit has achieved 96% compliance.

More details about the measures initiated by Patria Credit IFN îduring the pandemic period can be found îon dedicated page.