30.06.2021

FUND OF FUNDS SIGNED WITH UBB FOR BGN 2.5 BILLION

UBB has concluded an agreement with the Fund of Funds for amendments to the Portfolio Guarantee for Overcoming the Consequences of the Covid-19 Pandemic within the framework of the Recovery Program announced by the Government. It aims to provide small and medium-sized businesses with access to a resource of nearly BGN 2.5 billion.

The program will facilitate business access to recovery loans following the phasing out of measures related to the Covid-19 pandemic. Companies will be able to obtain fresh financial resources to meet their current liquidity needs, but also for new investment, transformation and growth. The updated guarantee conditions provide for loans to be granted in a short period of time, with minimal administrative burden and without the need for collateral.

Other advantages for the business include shortened deadlines for obtaining approval and the opportunity to master; possibility to negotiate a 12-month grace period; rescheduling of the payment up to 84 months; clarity of the process and minimization of the administrative burden; financing up to BGN 3 million and up to 70% of the turnover for 2019 or 2020, depending on which year it was higher; accessibility in all branches of the partner banks, which provides excellent coverage throughout the country.

The final recipients are small and medium-sized enterprises (SMEs).