Bank in Romania grants logistics operator one of the largest financing through the SME Invest program
OTP Bank granted one of the largest financing guaranteed through the SME Invest Program, amounting to 8.9 million lei, to the company Rara Invest SRL, to support the development investments of the logistics operator.
The financing is already used by the company for the expansion of the storage spaces it operates in the Șura Mică industrial park in Sibiu. The new logistics centre, under construction, will be added to the existing one and will consist of four storage units, with a combined area of 15,000 square meters, a capacity of 20,000 pallets and 23 ramps for loading and unloading trucks. It will offer its customers loading, unloading, labelling, as well as groupage or full truck transportation anywhere in the world through its fleet or that of its partners.
“It is an extraordinary situation and we are glad that we can continue the planned investments, in the current context. The biggest problem in such a crisis is doing nothing. For us, the launch of the SME Invest program was welcome, the procedures were relatively simple, and OTP Bank was the partner that supported us throughout this process, both in the office and on-site, because for us, beyond procedures and documents, it was important for the partner to understand the destination of the investment“, said Rareș Sârbu, the founder of the RARA group of companies from Sibiu that brings together the companies RARA Invest, RARA Construct, RARA Consult and RARA Trip.
The company, active in the field of storage and distribution, currently operates three warehouses located in the Șura Mică parks and the West industrial area in Sibiu, with a total storage area of 8,850 sqm and a capacity of 10,000 pallets. Rara Logistic also has its own fleet of 5 trucks.
“It is high-value financing, which demonstrates the functionality of the SME Invest program and provides an example of development for companies of this size. We first sought to see the operations of Rara Logistic, on the spot, the business model and the destination of the financing. We see a solid project, in an industry in which the demand is growing and which will increase the regional capacity of our partner “, said Dragoș Mirică, Deputy General Manager, Corporations Division, OTP Bank.
OTP Bank carried out an intensive lending campaign dedicated to small and medium-sized companies through the SME Invest Romania program. The bank quickly exhausted the first allocation from the National Credit Guarantee Fund for Small and Medium Enterprises and then obtained two successive increases in the guarantee ceiling, currently managing a ceiling of approximately 1.2 billion lei.