Ascent Group is expanding its operations to Greece and Cyprus
Ascent Group continues its expansion plans, and November 2021 marks the conclusion of a strategic partnership, an agreement that is covering the Greek and Cypriot markets.READ MORE
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Besides reimbursable financing provided under the IMM Invest Romania program, companies can now also benefit from non-reimbursable financing, which is regulated by emergency ordinance no. 130/2020 published on August 6.
We summarize below the main information regarding these grants.
Types of grants:
Who is it for?
Characteristics of the 3 forms of support:
A. The micro-grants shall be awarded from non-repayable external funds and the beneficiaries shall have an economic activity in one of the fields of activity listed in Annex 1 to the GEO 130/2020, shall not have employees, or shall fulfil the following cumulative conditions:
B. The working capital grants target beneficiaries affected by the spread of SAR-CoV-2 virus. The amount of non-repayable external financing for working capital shall be as follows:
Working capital grants shall be awarded mainly to SMEs in the fields of activity: restaurants, hotels, cafes, food industry, transport services, travel agencies, publishers/libraries/libraries, creative industries, as well as event organizations whose current activity was affected by the spread of SAR-CoV-2 virus or whose activity was prohibited or reduced by military ordinances during the emergency state. The list of eligible areas of activity is set out in Annex 2 to the GEO 130/2020 (attached document).
Conditions to be fulfilled for beneficiaries:
Note: These first two forms of support are allocated in the order of submission, subject to the eligibility criteria. Following receipt of the aid, a report (3 and 6 months respectively) will be submitted periodically stating the use of the amounts corresponding to the intended uses of the order. The sums used for another purpose may give rise to the recovery of State aid together with the payment of accessories.
C. Investment grants are between €50.000 and €200.000 depending on the financing needs of the investment projects submitted. Investment grants shall not include own co-financing of beneficiaries set at a minimum of 15 % of the grant amount requested by beneficiaries in less developed regions and 30 % of the grant amount requested by beneficiaries in the Bucharest-Ilfov region.
The list of eligible areas of activity is set out in Annex 3 to the GEO 130/2020, and the selection criteria are set out in Annex 4 to the GEO 130/2020.
Conditions for the benefit of investment grants:
We are waiting for the Applicant Guide to appear for more details. Stay tuned! 🙂