I.M.M. Factor


The value of the guarantee ceiling is a maximum of 5,000,000 lei / beneficiary.

The value of a guarantee for a factoring facility is a maximum of 750,000 lei. * The maximum guarantee percentage is 50% of the value of the factoring type financing, excluding interest, commissions and other expenses related to the guaranteed financing.

The maximum value of grants that can be awarded is up to 800,000 euros / SME. The aid may not exceed EUR 120,000 for each undertaking engaged in the fisheries and aquaculture sector or EUR 100,000 for each undertaking engaged in the primary production of agricultural products

Financing costs are in the form of GRANTS:

– 100% for the guarantee costs, respectively the risk commission and the administration commission

– 50% for the interest related to the amounts advanced by the financier

I.M.M. FACTOR supports access to finance for SMEs by providing state guarantee facilities for short-term loans to finance commercial credit.



(1) Small and medium enterprises carrying out economic activity, respectively the companies regulated by the Companies Law no. 31/1990, republished, as subsequently amended and supplemented, cooperatives, authorized natural persons, entrepreneurs holding an individual enterprise and authorized family enterprises, as well as non-governmental organizations, associations and foundations, agricultural cooperatives and agricultural companies carrying out economic activities.

2. The beneficiary shall be eligible under the program if, at the date of application for the guaranteed factoring facility under the program, it complies with Commission Recommendation C (2020) 4885 F of 14 July 2020 on the conditionality of granting public financial support to European Union enterprises. lack of connection with non-cooperating jurisdictions and cumulatively meets the following conditions:

a) is not in difficulty within the meaning of the provisions of art. 2 point 18 of Regulation (EU) no. 651/2014, with subsequent amendments and completions;

b) is not in dispute, as a defendant, with the Ministry of Public Finance and / or financier;

c) they do not appear with overdue loans, in the last 6 months or if they register arrears in the database of the Credit Risk Center, hereinafter referred to as C.R.C., they are classified in categories A, B and C;

d) is not prohibited from issuing checks and does not appear with major incidents with promissory notes in the last 6 months in the database of the Central Incident of Payments, hereinafter referred to as C.I.P., according to the provisions of the Regulation of the National Bank of Romania no. 1/2012 regarding the organization and functioning at the National Bank of Romania of the Payment Incidents Center;

e) is eligible according to the internal regulations of the financier;

f) does not register active or suspended seizures on bank accounts;

g) does not register outstanding fiscal obligations and other outstanding budgetary receivables administered by the central fiscal body, defined according to art. 1 point 31 of Law no. 207/2015 on the Fiscal Procedure Code, with subsequent amendments and completions.

h) no decisions to recover state aid have been issued against them or, if such decisions have been issued, they have been enforced, in accordance with the legal provisions in force;

(3) Small and medium-sized enterprises in the sectors / areas: financial intermediation and insurance, real estate transactions, gambling and betting activities, production or sale of armaments, ammunition, explosives, tobacco, are NOT eligible for guarantees under the program. alcohol, except wine and beer, substances under national control, plants, narcotic and psychotropic substances and preparations, rental and leasing activities, investigation and protection activities.


1. The program shall consist of the granting of State guarantees in favor of each beneficiary participating in the program to factoring with regressive financing, hereinafter referred to as factoring, granted by the financier, on the basis of invoices, within a guaranteed financing ceiling. by the state, through the Ministry of Public Finance, in a maximum of 50% of the value of factoring type financing granted by the financier to the eligible beneficiary, excluding interest, commissions and other expenses related to guaranteed financing with the possibility of extending financing up to 3 times, for periods up to at 12 months.

(2) The value of the guarantee ceiling is of maximum 5,000,000 lei / beneficiary, and the maximum value of a guarantee for a factoring facility, granted to the beneficiary for a assigned debtor, is of maximum 750,000 lei.

3. Small and medium-sized enterprises that have contracted guaranteed financing shall receive a grant within the limits of the cumulation resulting from the full amount of the risk and management fee and from the amount resulting from the application of a 50% interest rate, but no longer much more than the RON equivalent of 800,000 euros per enterprise.

4. The following conditions shall apply to the agriculture, fisheries and aquaculture sectors:

a) the aid does not exceed EUR 120,000 for each undertaking operating in the fisheries and aquaculture sector or EUR 100,000 for each undertaking operating in the primary production of agricultural products; all amounts used must be gross, ie before deduction of taxes or other charges;

b) the amount of aid granted to undertakings operating in the field of primary production of agricultural products should not be determined on the basis of the price or quantity of products placed on the market;

c) the aid granted to enterprises operating in the fisheries and aquaculture sector does not fall into any of the categories of aid mentioned in art. 1 para. (1) lit. (a) to (k) of Regulation (EU) no. Commission Regulation (EC) No 717/2014 of 27 June 2014 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid in the fisheries and aquaculture sector (d) where an undertaking operates in several sectors to which amounts apply different undertakings, the undertaking concerned shall ensure, by appropriate means, such as the separation of accounts, that for each of these activities the relevant ceiling is complied with and that, in total, the maximum possible amount is not exceeded.

5. The grant shall cover 50% of the amount of interest for a period of 8 months from the date of the grant, and the guarantee costs shall be covered by the grant for the entire period of validity of the guarantee, relating to factoring facilities granted until 30 June 2021 .

(6) The guarantee ceilings may be supplemented, after consuming at least 80% of the ceiling initially allocated to the beneficiary, at the request of the financier and after obtaining the agreement of the National Credit Guarantee Fund for Small and Medium Enterprises, hereinafter referred to as FNGCIMM. the maximum limit of 5,000,000 lei / beneficiary.

(7) The total amount of the factoring facility shall not exceed:

a) double the amount representing salary expenses, including mandatory social contributions due by the employer related to income from salaries and assimilated to salaries, recorded in 2019. In the case of enterprises established after January 1, 2019, the maximum loan amount may not exceed the estimated amount for the first two years of activity, or

b) 25% of the beneficiary’s net turnover for 2019, respectively gross income or annual income norm in the case of individuals earning income from independent activities, as the case may be, according to the Single Declaration on income tax and social contributions due by individuals submitted to the competent tax authorities for 2019, or

c) a value resulting from its liquidity needs; these may include both working capital and investment costs, provided that the beneficiary submits supporting documents, in which case the loan amount may not exceed the liquidity needs from the time of granting for the next 18 months.

(8) The financings are granted in lei, with withdrawals and reimbursements as the presentation and collection of the invoices accepted by the financier according to its own crediting norms.

(9) By implementing the scheme, it is estimated that state aid will be granted to a maximum number of 500 beneficiaries.

(10) The budget of the state aid scheme is 1,043 billion lei (the equivalent in lei of the amount of 215.72 million euros).

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