PoCIDIF: SME loans 80% guaranteed with subsidised interest, up to 1 million € per company

The Ministry of Investments and European Projects has approved, through Order No 1518/2026 published in Official Gazette No 844 of 7 October 2026, a de minimis aid scheme that combines the FNGCIMM guarantee with a grant in a single operation. Micro-enterprises, SMEs and small mid-cap enterprises can obtain loans guaranteed up to 80%, of up to €500,000 for investment and €500,000 for working capital, with subsidised interest and a reduction in capital instalments. The scheme runs until 31 December 2029, and loans are requested through FNGCIMM's partner banks.

In brief

• Programme: Smart Growth, Digitalisation and Financial Instruments Programme (PoCIDIF) 2021–2027, priority 1, action 1.5.2
• Authority: Ministry of Investments and European Projects; scheme administrator: FNGCIMM SA-IFN
• Beneficiaries: micro-enterprises, SMEs and small mid-cap enterprises with at least one year of activity
• Total budget: 547,661,849.94 lei, of which 375,478,251.94 lei for guarantees and 172,183,598.00 lei for grants
• Value per company: guaranteed loans of up to €500,000 for investment and €500,000 for working capital, no more than €1,000,000 in total; guarantee of up to 80% per transaction
• Grant: interest subsidised for 12 months (working capital) or 24 months (investment) and a 10% or 20% reduction in capital instalments
• Period: from publication in the Official Gazette (7 October 2026) until 31 December 2029
• Status: scheme approved and in force; applications are submitted to FNGCIMM's partner banks

Who can apply?

The scheme is aimed at micro-enterprises and SMEs, as well as small mid-cap enterprises. The text of the scheme defines them as companies that are not SMEs, have up to 499 employees and an annual turnover of no more than €100 million and/or a total balance sheet of no more than €86 million.

Main conditions of the scheme:

• the company has existed for at least one year and has been active for at least one full fiscal year;
• it is based and operates in Romania, is not in difficulty and is not subject to insolvency proceedings;
• it complies with the de minimis ceiling: no more than €300,000 of de minimis aid received in any three-year period, calculated on a rolling basis;
• the investment meets the innovation criterion of the Oslo Manual. In practice, the investment is used to produce, develop or implement new or significantly improved products, processes, services or production methods.

As in any de minimis scheme, the following are excluded: primary agricultural production, fisheries and aquaculture, export-related aid, and aid conditional on the use of domestic products in preference to imported ones. The processing of agricultural and fishery products is excluded where the aid is set according to the price or quantity of the products. The scheme estimates no more than 604 beneficiaries. Companies from Bucharest-Ilfov can receive no more than 22% of the total portfolio.

What does the company actually receive?

The support has three components, granted together:

• FNGCIMM guarantee: covers up to 80% of each loan.
• Interest subsidy: for the first 12 months on working capital loans and for the first 24 months on investment loans.
• Capital rebate: a 10% reduction in capital instalments on working capital loans and a 20% reduction on investment loans that contribute to the company's innovation or digitalisation. The rebate can be granted after at least 12 months from the signing of the loan. The conditions are that the loan has been repaid in accordance with the contract and that the financial statements show turnover growth of at least 2%.

The scheme also limits the cost of the loan. Interest cannot exceed 3M ROBOR plus a margin of 3.5% on working capital and 3% on investment. Investment loans can run for no more than 72 months, with a grace period of up to 12 months. Working capital loans can run for no more than 36 months.

What can be financed?

Investment loans can cover equipment, machinery, intellectual property rights, real estate and modernisation works. Working capital is eligible only if it is linked to investments financed under the programme, no older than one year at the date of the loan application, and if the need is justified in the business plan.

How and by when do you apply?

The company does not submit the application to the ministry or to FNGCIMM, but to one of the partner financial institutions selected by FNGCIMM. The bank checks eligibility, signs the loan agreement, disburses the funds and monitors the loan. The list of partner banks for PoCIDIF is published on the FNGCIMM website. The scheme applies until 31 December 2029, but the budget and the number of beneficiaries are limited. The order does not set a submission calendar, so applications are assessed as the banks grant the loans.

What this means for your business

Our recommendation: the scheme suits companies that need a loan for equipment or modernisation anyway and can demonstrate an element of novelty, whether a new product, an improved process or digitalisation. It is not a classic grant. The bank assesses your repayment capacity, and the advantage comes from the guarantee, the subsidised interest and the capital rebate.

• Check in good time what de minimis aid you have received in the last three years. The €300,000 ceiling includes all de minimis schemes.
• Prepare a business plan that explains the novelty of the investment under the Oslo Manual criterion. Applications without an innovation component do not qualify.
• The 20% rebate depends on turnover growth of at least 2%. Build your projections realistically.
• Larger companies that are no longer SMEs but have no more than 499 employees can now qualify as small mid-cap enterprises. It is worth checking your classification.

If you do not know which scheme you fall under, you can use the eligibility check.

Frequently asked questions

Can I obtain a loan of 1 million euro for a single investment?

No. The scheme allows no more than €500,000 for investment loans and no more than €500,000 for working capital. The cumulative ceiling on guaranteed financing for one company is €1,000,000.

Is the grant paid into the company's account?

The grant is not a separate sum for expenses. It is granted as an interest subsidy, for 12 or 24 months, and as a 10% or 20% reduction in capital instalments, linked to the guaranteed loan.

Where do I submit the application?

At one of FNGCIMM's partner banks or non-bank financial institutions for PoCIDIF. Their list is on the FNGCIMM website, and the bank is the one that checks eligibility and signs the contract.

Can companies from Bucharest-Ilfov apply?

Yes. The scheme covers all regions, but companies from Bucharest-Ilfov can receive no more than 22% of the total portfolio of the guarantee fund.

Can agricultural companies apply?

Primary agricultural production is excluded, as in all de minimis schemes. Other activities of the same company, for example processing, must be checked with the bank against the conditions of the scheme.

Official sources

• De minimis aid scheme – guarantee combined with a grant under PoCIDIF (Official Gazette No 844 bis/07.10.2026)
• MIPE Order No 1518/2026 approving the scheme
• FNGCIMM – PoCIDIF: the financial instrument and partner banks

Information checked on 10 October 2026. Conditions may be changed by the managing authority — check the guide in force before you submit.