FITD and ProCredit Bank provide easier access to financing for innovative companies

The Fund for Innovation and Technological Development and ProCredit Bank signed a Memorandum of cooperation with which micro, small and medium enterprises will receive easier access to finance. Through the new package of the bank, most services will be provided for startup companies.

The main benefit will be for the companies - applicants for co-financed grants of FITD, for which the bank will provide additional financial support in the area of own co-financing through more favorable interest rates than regular ones. The companies that applied but were not approved co-financing by the Fund will also receive relief.

"The fact that in just two months we managed to provide various benefits for companies, especially startups through the three most successful banks in the country is another proof that in the banking sector we have real partners who recognize the quality programs of FITD and the innovative potential of domestic companies. We continue to listen to the needs of the startup community and actively work on finding solutions to facilitate the realization of their ideas" said Kosta Petrov, Director of the Fund for Innovation and Technological Development.

The business package of ProCredit Bank will include the most favorable interest rate on a positive transaction account balance, a package of services included in the monthly commission (co-financing account, e-banking, MasterCard Business cards free for the first year, confirmations for third parties, issuance of credit and submission of information to Public Revenue Office). Additionally, the bank provides lower commissions within the domestic and international payment operations through e-banking and credit products at a preferential interest rate. Most importantly, the companies get a partner bank, where through the personal advisor for business clients, the business also receives an advisory service in the field of banking, which is extremely important for start-ups and developing companies. 

"By applying a partnership and individual approach in working with companies, we have built a premium brand with high quality service for business clients. As a bank, we know our clients well, their history, strengths, but also the challenges they face in their operations. Our team has the knowledge, experience, but also enthusiasm to work with clients to achieve their development plans. Cooperation with FITD enables us to offer this support to small ambitious and innovative businesses, which have great potential for growth and development and can significantly participate in creating GDP, increasing exports and creating new jobs" said Milan Damcevski, Director of Business Branch at ProCredit Bank.

In the coming period, ProCredit Bank in cooperation with FITD will organize educational and promotional activities related to the opportunities for financing domestic companies by the bank and FITD, increase financial literacy, in order to facilitate access to finance, facilitated business development and commercialization of innovation.

More information about the package can be found at the following link.