UniCredit Leasing cuts back on project finance

The international financial crisis has caused UniCredit Leasing, the leading player on this market with annual funding worth 500 million euros, to cut back significantly on business project financing and turn down companies it would have granted loans to last year. The international financial crisis has caused UniCredit Leasing, the leading player on this market with annual funding worth 500 million euros, to cut back significantly on business project financing and turn down companies it would have granted loans to last year.

"We are no longer granting finance to companies we would have accepted a year or two years ago. In the past we would more readily finance start-ups, but we are now looking more carefully and prefer established companies. Secondly, we started to exchange information with other leasing companies for the first time this year, to avoid taking somebody else's bad-paying customers in our portfolio," Septimiu Postelnicu, general manager of UniCredit Leasing, told in an interview.

Ziarul Financiar