28.01.2022

LOANS FOR SMALL COMPANIES WITH 5% SELF-PARTICIPATION WILL BE GRANTED BY BDB

The Bulgarian Development Bank (BDB) has renewed the terms of its program in partnership with the Pan-European Guarantee Fund in support of small and medium-sized businesses, creative industries and start-ups, BDB said.

Credits for businesses and creative professions have already been reduced self-participation up to 5 percent, and the application deadline has been extended to June 30, 2022.

BDB's "Business: Creative: StartUP" program provides funding to some of the most affected by the pandemic sectors with preferential interest rates and lower than standard collateral and deductible requirements.

The amount of loans granted for creative businesses is up to BGN 500,000. Start-up companies can benefit from financing up to BGN 250,000 without having to pledge their property, as a guarantee will be the purchased asset.

Small and medium enterprises from all sectors that do not fall into the other two segments can also apply for a loan on better terms: from BGN 100,000 to 5 million, for up to 10 years and a grace period of up to 18 months.

So far, the program in partnership with the Pan-European Guarantee Fund has granted loans totaling almost BGN 3 million. The companies that have received support operate in the field of production and trade, and one of them is start up - registered in the middle of last year and is engaged in plastic recycling.

Companies in need of funding can now apply online or on site at the BDB office in Sofia.