The FINANCIAL — The EBRD is supporting the diversification of financial services available to small and medium-sized companies in Poland with a loan of up to PLN 80 million (€20 million equivalent) to Masterlease to support further growth of the company’s portfolio and customer base.
With branches in 17 key locations throughout Poland, Masterlease is a leading provider of leasing services, including value-added products such as car fleet management, serving over 11,000 micro, small and medium-sized companies (MSMEs).
"Despite the relatively strong performance of the Polish economy, the financial crisis has reduced the availability of bank loans and lease financing, with smaller companies being particularly affected," EBRD says.
The EBRD loan will enable Masterlease to fund new leases for private businesses in Poland. The project will ensure a better access of local companies to financing of vehicles, while improving company’s access to debt market.
“Increasing financial intermediation for the benefit of MSMEs through non-banks is one of the EBRD’s priorities in Poland and we’re pleased to support Masterlease in its strategy to expand the availability of leasing services to private businesses”, said Lucyna Stanczak, EBRD Director for Poland.
“This year Masterlease beats record in terms of the number of new contracts. We expect to grow at a rate of about 18 percent per year. One of our priorities is the development of FSL (Full Service Leasing) in small and medium enterprises sector. Specifically for this purpose we obtained the funding from the EBRD. Thanks to this support we can develop the sales of our products throughout the country, reaching the less privileged and less economically developed regions”, said Jerzy Kobylinski, President of the Board at Masterlease Poland.
The EBRD increased its activity in Poland in 2009 and 2010 by providing long-term funding for banks and leasing companies, aiming to supporting the MSME sector.
Overall, since the beginning of its activity in Poland the Bank has invested over €4.5 billion in various sectors of the country’s economy, of which approximately €1.3 billion in the financial sector, mobilising additional investment of more than €13 billion.
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