Romanian jewelry company Teilor has contracted two loans from Raiffeisen Bank worth EUR 2.6 mln in total.

The loans will be 90% guaranteed by the state through the state-owned lender Eximbank, under the scheme to support local companies impacted by the COVID-19 pandemic.

The first loan, worth EUR 1.6 mln, is for working capital and the other one, worth RON 5 mln (over EUR 1 mln) is for investments.

Teilor is a Romanian family business that started on Teilor Street in Pitesti and has reached a network of 50 stores in Romania. The brand has also expanded abroad in Poland and Bulgaria.

In 2019, Teilor recorded a turnover of RON 160 mln (EUR 33 mln), up by 30% compared to 2018.

andrei@romania-insider.com

(Photo source: the company)