Bolstering a New Market Economy through Credit

CHF has been working in Romania since 1994 to enhance the competitiveness of the business community, and prepare the country for EU accession – an effort that culminated in 2007.

With those aims, CHF implemented a program that promoted the competitiveness of the Romanian economy by improving the legal and regulatory environment for Romanian micro-, small- and medium-sized enterprises and by strengthening the tourism and information technology and communications sectors.

Currently, Express Finance – Institutie Financiară Nebancară S.A. supports the financial needs of medium and small enterprises and provides a range of financial products to support the housing and business needs of low income families.

Established in January 2006, Express Finance, is a stand alone financial institution that continues the microfinance activities previously executed by CHF Romania. By promoting improved housing and the growth of small and medium enterprises, Express Finance contributes to the development of communities and the rise of household incomes. Following Romania’s entrance into the European Union, it will help entrepreneurs integrate their businesses into the European marketplace.

Express Finance has become one of the largest development finance providers in the country, operating in 25 of Romania’s 42 counties and partnering with over 50 non-governmental organizations, member-based business service organizations, and Chambers of Commerce. In addition, it works with the Romanian government in targeted rural and mining areas and has been a lead player in the flood response through home improvement lending. In 2007, Express Finance successfully registered as a Non-Bank Financial Institution with the National Bank of Romania, enabling it to better serve it's customers.

Since 1996, the Express Finance portfolio has grown from a modest $150,000 seed fund to an outstanding loan portfolio of more than $12 million serving over 2,000 clients.