BRD, the second-largest bank on the Romanian market by assetshas around 4 million euros in guarantees left for loans grantedthrough the "First Home" scheme and estimates the cap allocated forthis year will run out by the end of March.
"The cap will run out by the end of March, according to ourcurrent estimates. BRD currently has over 700 applications, whichare either approved or in various stages of approval, with theaverage value of a loan amounting to 40,000 euros," said AdrianJantea, head of promotion and distribution within the bank, in aFacebook discussion with potential clients.
In a first for the Romanian market, the bank organised adiscussion with potential clients through a social network, afterthe BCR, which received the highest cap for "First Home" 3, keptits branches open for two weekends in order to speed up the sale ofstate-guaranteed loans.
BRD received the second-largest guarantee cap this year, of 32million euros, accounting for 16% of the overall guaranteesallocated by the Government for "First Home" 3. Clients receive ananswer within an average of ten days from applying if thedocumentation is complete, with the period also including thedeadline for approving the application by the SME Credit GuaranteeFund, the institution that manages the guarantees granted by thestate.
BRD officials say there is no risk of clients filingapplications, which would then be rejected due to the guarantee caprunning out, because the bank will no longer receive applicationsif there are no more guarantees available.
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