“Thanks to Crimson Finance Fund Albania, not only did I manage to have my own taxi vehicle, but I was also able to save on operating costs while protecting the environment.”
I have been operating as a taxi driver for more than 8 years in the city of Tirana. At first I did not have my own vehicle, but I operated with a rented taxi. After learning about the advantages of electric cars, I decided to lease one. With the financing of Crimson Finance Fund Albania I am now working with an electric car, which is ecological, has little costs and at the end of the financing the vehicle will be in my legal ownership. Today not only do I not pay rent for a car that is not mine, but thanks to the differences between the consuming costs of the diesel car and the consuming costs of the electric car, I provide income with which I pay the installment of the financing.
“The financial support of Crimson Finance Fund Albania initially supported us in modernizing our poultry factory, and then in supporting the production of the first truly certified bio egg in the Albanian market, COCOVE”
COCOAL Ltd is a business established in 2015 and its main activity is the growth and trade of birds, also, since the beginning of 2020, the provision of certified BIO eggs. In its begginings, COCOAL Ltd operated only in raising birds and selling them. To perform this activity, special environmental conditions (constant temperature and ventilation) and a specialized process for feeding the birds were needed. Thanks to the first financing from Crimson Finance Fund Albania, it became possible to modernize the food process for birds, and to invest in an environment that was quaified by European standards, in terms of their growth. This financing helped to increase production quality and the sales volume. COCOAL Ltd in this period became the main supplier of the meat production company "DRIZA". Crimson Finance Fund Albania financed our business for a second time, making it possible to expand the activity, with the production and the marketing of the bio eggs. In the attached video, the investments achieved in COCOAL Ltd through the financing of Crimson Finance Fund Albania are presented.
“Crimson Finance Fund Albania made it possible for me to actualize a project that is both profitable and developmental: That of providing internet service in some rural areas. ”
Seeing the lack of internet access in the village where I live, Pajova, Elbasan, I opened an internet caffe. This venture proved successful and encouraged me to invest in providing internet for the residents of my village. Crimson Finance Fund Albania believed in my plan and supported me at a time when no other financial institution would. Thanks to the combined financing between Leasing and Factoring, suggested by CFFA staff, I invested in fiber optics that allowed me to provide internet not only for my village, but also for 20 other villages near it, at a time when no national operator offered this service. Today, although the latter have extended their coverage in these areas, I remain the first choice of the residents for internet services.
“Crimson Finance Fund Albania financed us through Leasing, making it possible to eliminate a work process, which was previously offered by one of our suppliers. This was the only external process and through its elimination the production costs of the activity were reduced.”
Prodekor Company was founded in 2000. It is a business with many years of experience and traditions, and it is a market leader in the field of the production of exterior and interior architectural decorations. Prodekor, through its factories and exhibitors, designs and builds prefabricated artisanal forms, by fulfilling every need in the field of conservation, restoration and the designing of decorations for new and existing buildings. An important component of our products is marble, which must undergo a process when it transforms into fine sand. Due to the lack of marble behavior capacity in this condition, Prodekor used to buy it processed. Through the processing equipment financed by Crimson Finance Fund Albania, we have now significantly reduced our costs, performing this process within our factory!
Estelite Dental Center
“Through leasing, Estelite Dental Center is now able to provide dental surgery services in its clinic.”
Estelite Dental Center offers dental health care for every age group and has been operating since 2017 in Tirana. At the beginning of the activity Estelite Dental Center offered general dental treatments, but it did not offer surgical services. With the increase of its activity and the business development, we decided to lease a dental equipment that allowed us to perform surgical procedures in our business. We now have a special room in our clinic where this equipment is placed and surgical procedures are performed.
“Through direct factoring, a unique financial product in the Albanian market, M.C.P Ltd was able to successfully overcome a liquidity problem.”
M.C.P is one of the most successful companies in Albania in the field of the production of products and materials with plastic composition. The company was established in August 1999 and has been awarded by the Albanian Government and the Labor Office with the "Golden Bee" award for innovation, quality of work and maintenance of environmental standards. With 130 employees and a total area of 16,000 m2, M.C.P produces products such as boat skeletons, kiosks, car seats, or Aquapark. As a result of the summer season and the increase in sales volume, the company encountered a liquidity difficulty due to bills not paid by its customers. Through direct factoring, the unique financial product in the Albanian market, M.C.P was able to overcome this temporary liquidity problem.
Hp Vendresh Energy
“Hp Vendresh Energy managed to successfully inaugurate the hydropower plant with a production capacity of 2.8 million kw per year, within the deadline set by the Ministry of Infrastructure and Energy, thanks to the financing from Crimson Finance Fund Albania.”
HP VENDRESH ENERGY Ltd is a company established in October 2013 based in Berat. The company is engaged in running a hydropower plant and distributing energy. HP VENDRESH ENERGY signed a concession contract with the Ministry of Infrastructure and Energy in 2013 for the construction of a hydropower plant and from that period began to invest in this project. Thanks to the financing of Crimson Finance Fund Albania, it became possible to inaugurate the hydropower plant within the deadline set by the Ministry of Infrastructure and Energy. The hydropower plant has a production capacity of 2.8 million kw per year.
“Crimson Finance Fund has provided vital financial support for the establishment of one of the only lead preparation and melting aluminum factories in Albania through the financing of the equipment of our factory.”
CCALB Ltd is a foreign and Albanian company specialized in the processing of lead and aluminum, created in 2017. Being a start-up business, CCALB Ltd encountered difficulties in accessing financial help from other financial institutions in the country. In order to put into operation the lead and aluminum processing factories as well as to exploit the customer network (100% export), CCALB Ltd had a considerable need for equipment for its factory and to create working capital. Thanks to financial support from Crimson Finance Fund, CCALB Ltd managed to put its factory to work and increase its sales.
"The machinery financed by Crimson Finance Fund Albania helped to eliminate a problem in the production process, which affected the quality and price of our products."
Kennedy Ltd is a company founded in 1994, focused on the production of meat by-products. Previously, Kennedy Ltd's final products were produced in different sizes, not in standard shapes, because of the machinery that was in use. This problem affected the product on the price side, consequently reducing the company's revenue. Through leasing, Kennedy was able to be equipped with a machine that eliminated this problem and made it possible to produce standard-sized meat by-products. Given that the raw material used in this process remained unchanged, this equipment led to an increase in the company's total profit.