Annual Report 2010 - ProCredit Bank

Rodica and Ciprian Lazar,
Producers of Non-asbestos
Insulation Materials
Run by Rodica and Ciprian Lazar, Etansari Grafex
is a family company that produces and sells
non-asbestos insulation materials. Established
in Ploiesti in 1996 by Mrs. Lazar’s parents, the
business started in a rented space no bigger than
20 m 2 and had no other employees besides the
family members.
The company grew steadily, opening new production
departments and increasing the number of
employees over the years. By 2006, the Lazars
had around 30 employees and conducted their
business activities at two sites, both rented, with
a total workspace of 500 m 2 . This was when the
couple decided to purchase land on which to build
their own production facility. Seeking funding for
this project, they went online and discovered that
ProCredit Bank offered financing for small and
medium-sized companies. They went to the bank’s
Ploiesti branch and discussed loan options.
“ProCredit Bank listened to what we had to say
and understood our needs – that was what mattered
the most!”
says Mrs. Lazar.
Favourably impressed with what ProCredit had to
offer, in May 2006 the Lazars became clients at
the bank and received a loan of EUR 120,000. The
first tranche was used to purchase a 6000 m 2 plot
of land. The second tranche, disbursed in November
2006, went into building the production facil-
ity. In April 2007, the couple received a new loan
of EUR 49,500, which it invested in equipment for
the facility and payments for finalising the construction.
A third loan of EUR 160,000 was given
to the company in March 2009 for construction of
a second facility on the same premises.
Thanks to the growth made possible by ProCredit
Bank’s support, the Lazars had built their own office
space and production facility by 2010, with
over 40 employees working on their 1200 m 2
property. Etansari Grafex has increased its turnover
five-fold and now serves more than 75 clients
all over Romania.
The Lazars are sure that they will remain loyal to
ProCredit in the future, as they are happy with the
relationship they have with the bank and like the
way they are treated there.
“If the bank’s conditions remain as favourable
as they are now, we will certainly apply for other
loans to further expand our business.”
Our Clients 43