In the Official Gazette (Part I) no. 168 of February 18, 2022, the Order of the Minister of Finance no. 196 was published for the modification and completion of the Order of the Minister of Public Finance no. 1,886 / 2020 on the approval of the financial mechanism for the transfer of amounts related to grants due to beneficiaries under the State Aid Scheme to support the activity of SME (IMM) (IMM)s in the context of the economic crisis generated by the COVID-19 pandemic from the budget of the Ministry of Public Finance – General actions Credit Guarantee for Small and Medium Enterprises – SA – IFN, the model of the Convention on the implementation of the Program for the support of small and medium enterprises and small enterprises with medium market capitalization – IMM INVEST ROMANIA, the model of the Convention guaranteeing and paying grants, the guarantee contract, the document, as well as for establishing the level of the risk commission and of the administration commission for the year 2020
According to the mentioned normative act, it is approved:
- Convention on the implementation of the Program for the support of small and medium enterprises and small enterprises with medium market capitalization – SME (IMM) (IMM) INVEST ROMANIA, provided in annex no.2, which will be concluded between the Ministry of Finance and the F.N.G.C.I.M.M., provided in articol 8 para.(1) of the Government Emergency Ordinance no.110/2017 on the Support Program for small and medium enterprises and small enterprises with medium market capitalization – SME (IMM) INVEST ROMANIA, approved with amendments and completions by Law no.209/2018, with subsequent amendments and completions
- Agreement for guaranteeing and paying grants for the Program for the support of small and medium enterprises and small enterprises with medium market capitalization – IMM INVEST ROMANIA, provided in annex no.3, which concludes between F.N.G.C.I.M.M.and credit institutions, provided in article 2 letter b) of the Methodological Norms for the application of the Government Emergency Ordinance no.110/2017 on the Support Program for small and medium enterprises and small enterprises with medium market capitalization – SME (IMM) INVEST ROMANIA, approved by Government Decision no.282/2020, with subsequent amendments and completions.
- Agreement for the guarantee and payment of grants for the Subprogram for the Support of Small and Medium Enterprises and Small Enterprises with Medium Market Capitalization – AGRO IMM INVEST, provided in Annex no.4, which concludes between the F.G.C.R.and credit institutions, provided in article 2 letter b) of the Methodological Norms for the application of the Government Emergency Ordinance no.110/2017 on the Support Program for small and medium enterprises and small enterprises with medium market capitalization – SME (IMM) INVEST ROMANIA, approved by Government Decision no.282/2020, with subsequent amendments and completions.
We mention that the MF Order 196/2022 includes important changes regarding the financial mechanism for transferring the amounts related to the grants due to the beneficiaries within the State Aid Scheme for supporting the activity of SME (IMM) in the context of the economic crisis generated by the COVID-19 pandemic.
Thus, according to the EMERGENCY ORDINANCE 110/2017 on the Program for the support of small and medium enterprises and small enterprises with medium market capitalization – IMM INVEST ROMANIA, approved with amendments and completions by Law no. 209/2018, with subsequent amendments and completions, SME (IMM) , small enterprises with medium market capitalization, as well as farmers, professionals and forms of organization of the liberal professions, which contract investment loans and / or loans / lines of credit for capital working within:
- IMM INVEST ROMANIA Program, benefits from a grant within the cumulative result between the value of the risk commission, the management commission related to the granted guarantee and the interest related to the loans, but not more than the equivalent in lei of 2,300,000 euros per enterprise. The euro / leu exchange rate for calculating the maximum limit of 2,300,000 euros is the exchange rate of the National Bank of Romania valid at the date of issuing the financing agreement
- AGRO IMM INVEST Sub-program, benefits from a grant within the cumulative result between the value of the risk fee, the management fee related to the guarantee granted and the interest related to loans, as well as a non-reimbursable component of maximum 10% of the value of the guaranteed financing, provided that the limit of 345,000 euro for each enterprise operating in the fisheries and aquaculture sector, 290,000 euros for each enterprise operating in the field of primary production of agricultural products, respectively 2,300,000 euros for each enterprise operating in the food sector.
The risk fee and the administration fee:
According to the current provisions, the risk commission represents the amount due to the Ministry of Finance (M.F.) by the beneficiary of the Program.
The risk commission is calculated by the National Credit Guarantee Fund for Small and Medium Enterprises – S.A. – IFN (F.N.G.C.I.M.M.) / Rural Credit Guarantee Fund – S.A. – IFN (F.G.C.R.), for the entire validity period of the guarantee, as a differentiated percentage depending on the duration of the guarantee, being applied to the value / balance of the guarantee at the end of the year / years of the guarantee.
Important! The obligation to pay the risk fee is covered by the aid in the form of a grant received by the beneficiary for the entire duration of the guarantee.
The risk commission is regularized at the final maturity of the loan, depending on the actual balance of the guarantee, for the entire period of the guarantee, by paying the difference by the beneficiary, if applicable.
After the termination of the applicability of the state aid scheme, for the new contracted credits or if the initially contracted credit is increased / extended, the amounts representing the risk commission are calculated by F.N.G.C.I.M.M./F.G.C.R. and is transferred by the beneficiaries of the Program to a separate budget revenue account, opened at the units of the State Treasury within the central fiscal bodies competent in the administration of the fiscal obligations due by them.
The management fee is due to F.N.G.C.I.M.M./F.G.C.R. by the beneficiary of the Program.
The administration fee is calculated by the F.N.G.C.I.M.M./F.G.C.R. and is transferred by the credit institution. During the State Aid Scheme to support the activity of SME (IMM) in the context of the economic crisis generated by the COVID-19 pandemic, the obligation to pay the administration fee is covered by state aid in the form of a grant received by the beneficiary under the aid scheme. Of the state.
This commission is regularized at the final maturity of the loan, depending on the actual balance of the loan, for the entire period of the loan, by paying the difference by the beneficiary or F.N.G.C.I.M.M./F.G.C.R., As the case may be.
The maximum duration of the financing in case of loans / credit lines for working capital is 36 months, with the possibility of extension for a maximum period of 36 months starting from the due date of the financing provided in the initial credit agreement, following that, at least in the last 12 months of the extension, the loan repayment should be made in monthly or quarterly installments based on a repayment schedule. For the credits provided in article 2 par. (2) (a) and (b), M.F. pays the grants representing the interests related to the credits / credit lines for financing the working capital and the credits for investments, the administration commission and the risk commission in the quota of 100%, as well as the non-reimbursable component in value of maximum 10% applied to the value of the guaranteed financing. beneficiaries of the AGRO IMM INVEST Subprogramme, respectively small and medium enterprises, small enterprises with medium market capitalization, as well as farmers in the field of agriculture, fisheries, aquaculture and food sector, from the budget of the Ministry of Finance – General Actions, within an aid scheme associated with this program.
The non-reimbursable component of maximum 10% of the value of the guaranteed financing is granted to the beneficiaries who apply within the AGRO IMM INVEST Subprogram, provided that the limit of 345,000 euros for each enterprise operating in the fisheries and aquaculture sector, 290,000 euros for each enterprise which carries out its activity in the field of primary production of agricultural products, respectively 2,300,000 euros for each enterprise that carries out its activity in the food sector. “
Management fee – the amount due F.N.G.C.I.M.M. for the remuneration of the activity of analysis, granting, monitoring and administration of guarantees, the level of which is established annually by order of the Minister of Finance and is supported from the state budget, through the budget of M.F. – General actions within the state aid scheme associated with this program. After the termination of the state aid scheme, for the new contracted credits or if the initially contracted credit is increased / extended, the administration commission is due to FNGCIMM / FGCR, as the case may be, by the beneficiary of the program and is transferred by the credit institution. validity of the guarantee and, as the case may be, until the date of registration with FNGCIMM of the payment request. It is calculated at the value / balance of the state guarantee.
The calculation formula of the administration commission for the guarantees related to all the categories of credits granted within the Program:
Management fee = (value1) / balance2) of the guarantee on December 31 of the previous year * percentage of annual fee * no. warranty month for that year3) / 12.
Specifications:
– In the year of granting the guarantee, the administration commission is calculated at the maximum value of the guarantee. For credit lines without a repayment schedule, the maximum value of the guarantee is used in the calculation formula of the administration fee.
– For the following years of granting the guarantee, the administration fee is calculated at the estimated balance of the guarantee for the previous year.
– Including the month in which the guarantee enters into force, excluding the last month of validity of the state guarantee.
The Board of Directors due F.N.G.C.I.M.M. for the entire period of state aid schemes is supported from the state budget, through the budget of M.F. – General actions within the state aid scheme associated with this program.
The administration commission is regularized at the final maturity of the loan, depending on the actual balance of the loan, for the entire period of the loan, by paying the difference by the beneficiary or F.N.G.C.I.M.M.
In case of waiver of the guarantee, the administration commission is returned to the Ministry of Finance, if the credit has not been used.
In the case of SME (IMM) that are established less than 3 years from the date on which the financial difficulty is assessed, they will not be considered to be in difficulty, unless they are in one of the following situations: insolvency proceedings, enforcement proceedings initiated by the tax authorities and / or other creditors, operational closure, dissolution, liquidation, special administration or composition and meet the criteria of national law to be subject to insolvency proceedings at the request of creditors (according to the declaration on their own responsibility, completed and signed by the beneficiary of the financing).
” According to the EMERGENCY ORDINANCE 110/2017, with the subsequent modifications and completions, the credits for the realization of investments and / or the credits / credit lines granted for financing an activity from the following sectors / fields cannot be guaranteed within the Program:
- financial intermediation, except for activities auxiliary to financial intermediation: CAEN code 6499 – Other financial intermediation n.c.a..;
- insurance, except for the activities of insurance agents and brokers:
CAEN code 6430 – Mutual funds and other similar financial entities;
CAEN code 6511 – Life insurance activities;
CAEN code 6622 – Activities of insurance agents and brokers;
- real estate transactions, except for the activities of real estate transactions carried out by real estate agents:
CAEN code 6810 – Buying and selling of own real estate;
- groupe 920 – Gambling and betting activities;
- production or sale of weapons, ammunition, explosives, tobacco, alcohol, substances under national control, plants, narcotic and psychotropic substances and preparations:
- – CAEN code 110 – Manufacture of beverages, except class
1102 – Manufacture of grape wines,
1103 – Manufacture of cider and other fruit wines,
1104 – Manufacture of other non-distilled fermented beverages,
1105 – Manufacture of beer,
1106 – Manufacture of malt and
1107 – Production of non-alcoholic soft drinks;
– CAEN code 1200 – Manufacture of tobacco products;
– CAEN code 2540 – Manufacture of weapons and ammunition;
– CAEN code 2051 – Manufacture of explosives;
– CAEN code 4635 – Wholesale of tobacco products;
– CAEN code 4726 – Retail sale of tobacco products in specialized stores;
- investigation and protection activities:
CAEN code 803 – investigation activities
- division 77 – Rental and leasing activities.”
Legal basis:
– Emergency Ordinance 110/2017 on the Support Program for Small and Medium Enterprises and Small Enterprises with Medium Market Capitalization – SME (IMM) INVEST ROMANIA;
– Order MF 196/2022 for the amendment and completion of the Order of the Minister of Public Finance no. 1,886 / 2020 on the approval of the financial mechanism for the transfer of amounts related to grants due to beneficiaries under the State Aid Scheme to support the activity of SME (IMM) in the context of the economic crisis generated by the COVID-19 pandemic from the budget of the Ministry of Public Finance – General actions Credit Guarantee for Small and Medium Enterprises – SA – IFN, of the model of the Convention on the implementation of the Program for the support of small and medium enterprises and of small enterprises with medium market capitalization – IMM INVEST ROMANIA, of the model of the Convention for guarantee and payment of grants, of the guarantee contract, of the document, as well as for establishing the level of the risk commission and of the management commission for the year 2020;
– MFP Order 1886/2020 on approving the financial mechanism for transferring the amounts related to grants due to beneficiaries under the State Aid Scheme to support the activity of SME (IMM) in the context of the economic crisis generated by the COVID-19 pandemic from the Ministry of Finance budget – General actions to the Fund National Credit Guarantee for Small and Medium Enterprises – SA – IFN / Rural Credit Guarantee Fund S.A. – IFN, of the model of the Convention on the implementation of the Program for the support of small and medium enterprises and of small enterprises with medium market capitalization – IMM INVEST ROMANIA, of the model of the Convention for guarantee and payment of grants, of the guarantee contract, of the document, as well as for establishing the level of the risk commission and of the administration commission for the year 2020.