BRD seeking clients on Facebook for last 100 "First Home" loans

BRD, the second-largest bank on the Romanian market by assets has around 4 million euros in guarantees left for loans granted through the "First Home" scheme and estimates the cap allocated for this year will run out by the end of March.

"The cap will run out by the end of March, according to our current estimates. BRD currently has over 700 applications, which are either approved or in various stages of approval, with the average value of a loan amounting to 40,000 euros," said Adrian Jantea, head of promotion and distribution within the bank, in a Facebook discussion with potential clients.

In a first for the Romanian market, the bank organised a discussion with potential clients through a social network, after the BCR, which received the highest cap for "First Home" 3, kept its branches open for two weekends in order to speed up the sale of state-guaranteed loans.

BRD received the second-largest guarantee cap this year, of 32 million euros, accounting for 16% of the overall guarantees allocated by the Government for "First Home" 3. Clients receive an answer within an average of ten days from applying if the documentation is complete, with the period also including the deadline for approving the application by the SME Credit Guarantee Fund, the institution that manages the guarantees granted by the state.

BRD officials say there is no risk of clients filing applications, which would then be rejected due to the guarantee cap running out, because the bank will no longer receive applications if there are no more guarantees available.