СЕКТОР „БЪРЗИ КРЕДИТИ“ В РУМЪНИЯ И БЪЛГАРИЯ: РАЗВИТИЕ И РЕГУЛАТОРНИ СПЕЦИФИКИ
„RAPID LOANS“ SECTOR IN ROMANIA AND BULGARIA: DEVELOPMENT AND REGULATORY SPECIFICS

Summary/Abstract: With the economic development of Romania and Bulgaria with already 10 years of membership in the EU, the non-bank financing sectors have expanded, too. The pace of their conquest of market territories outruns the pace of development of classical banking institutions. By supporting consumer demand, however, companies operating in the sector offer unusually high amounts of annual cost rates. Thus, the customers of "rapid loans" companies often repay, apart from the principal, an approximately equivalent amount of "loan costs", expressed in interest, commissions, fees, etc. The research area of this paper is the "rapid loans" sectors and the research problem is their development in Bulgaria and Romania. The aim of the article is to present analytically the development of "rapid loans" sectors in both countries, by comparing trends and lending profiles of selected companies. Our findings infer that "rapid loans" are used by customers who would otherwise be rejected by the classical commercial banks, either because of “bad credit” or low (or no) income. The experience of Bulgaria shows that the granting of "rapid loans" leads to the development of a parallel business sub-sector - that of the "collector" companies.

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