Former business environment minister Ilan Laufer officially launched on Tuesday, October 2, the Smart Start USA program, which aims to finance up to 10,000 companies each year and help them expand to international markets and especially to the U.S.

The program has a budget of USD 500 million and is implemented with the help of three Romanian lenders, namely BCR, Piraeus Bank and Banca Transilvania, local Agerpres reported.

Interested companies can register the application until the end of this year. Each company can get a loan of USD 200,000 to finance international expansion projects. The companies must also contribute with at least 15% of the project’s value.

The applications are evaluated based on several criteria, including the activity sector and financial results. Companies that invest over 70% of the money in equipment and software and those who produce in Romania get extra points.

The program will be promoted through a caravan that will reach 30 cities in Romania.

Former minister launches USD 0.5 bln program to help Romanian companies expand to U.S.

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