SMEs have two third of bank debts

According to the first study carried by Amsterdam-based Atradius commercial insurance company on Central and Eastern European company payment behavior, Romanian companies rank top in the region in terms of debts not paid on time. 

Almost half (46 percent) of companies interviewed by Atradius said Romanian companies are known for bad behavior in terms of payment according to contracts. Only 23 percent of Romanian companies were labeled as trustworthy in this sense. 

Ovidiu Nicolescu, President of the National Council for Small and Medium Sized Companies (CNIPMMR), said Romanian SMEs refrain from applying for loans, with more than 70 percent financing themselves. Some 26 percent of SMEs use leasing, 5.5 percent have received non-refundable funds, and 4 percent obtained loans from specialized financial institutions.