26.02.2021

The program for interest-free loans for citizens is extended

The Bulgarian Development Bank (BDB) has submitted a proposal to the Ministry of Economy to extend the program for interest-free lending to individuals who are temporarily unable to work due to the COVID-19 pandemic.

The changes are in the context of the complicated epidemic situation and aim to provide additional financial resources to meet the continuing active demand for interest-free loans under the program.

Due to reaching the guarantee limits, some of the commercial banks-partners in the program temporarily stop accepting applications from the applicants. They continue to accept new applications in the branches of Investbank and D Commerce Bank.

The program is aimed at supporting employees and self-employed persons, farmers and seasonal workers who have ceased their activities.

After the interim changes, BDB guarantees loans up to BGN 6,900 and provides an opportunity for lending to citizens who have been on unpaid leave due to the pandemic, and in the current period of imposed anti-epidemic measures are unemployed.

The maximum repayment period is 5 years, with a minimum of 6 months and a maximum of 24 months grace period. The loans are exempt from fees, commissions and penalties.