ProCredit Bank, in cooperation with the EIF, secured additional EUR 60 million in financial support for Macedonian small and medium-sized enterprises.

Through the guarantee scheme for development and innovation in the Western Balkans (Western Balkan (WB) Enterprise Development and Innovation Facility (EDIF) Guarantee4 SME Resilience Guarantee Program), ProCredit Bank in cooperation with the European Investment Fund supports investments of small and medium-sized enterprises for the procurement of basic and funds and documentary products.

In this way, ProCredit Bank offers enhanced financial support specifically tailored to the needs of local businesses that are developing.

"We firmly believe in the potential of our small and medium-sized enterprises and therefore remain committed to serving as a catalyst for their development. Through strategic partnerships and innovative solutions, we will continue to strengthen these businesses, encouraging sustainable growth and resistance to changes in the region," said ProCredit Bank.

Small and medium-sized enterprises will now have increased access to finance, which will enable them to acquire fixed and current assets, documentary products, and even refinance existing loans. Greater access to finance will increase business competitiveness, innovation, business growth and job creation.

Eligible companies can secure loans of up to 500,000 euros at preferential interest rates and without or with lower collateral. With a repayment period of a minimum of 12 months to a maximum of June 30, 2035 and with the possibility of a grace period of up to 12 months, ProCredit Bank says that companies will have enough time to effectively manage their finances.

An additional convenience when using funds from this guarantee scheme is the required security which is lower than the standard requirements, while there is also the possibility of security in the form of a notary promissory note. This facilitates access to financing for small and medium-sized enterprises and allows greater flexibility in the borrowing process.

The funds are intended to increase access to finance for small businesses and improve their resilience to current economic challenges, while creating conditions for business expansion, employment and innovation.

Through the guarantee scheme for development and innovation in the Western Balkans, ProCredit Banka Macedonia will provide support of 60 million euros for small and medium-sized enterprises. It is expected that these funds will support around 800 small businesses and thereby maintain around 10,000 jobs.