15.09.2021
URSULA VON DER LEYEN: TO SUPPORT THE YOUNG PEOPLE OF EUROPE
2022 must be dedicated to Europe's youth, who have sacrificed so much in the wake of the coronavirus pandemic, European Commission (EC) President Ursula von der Leyen said in a speech on the state of the EU to MEPs.
The main highlights of her speech were also the fight against the coronavirus pandemic, climate change, international threats and the Community Defense Union.
She said an Erasmus-like program called ALMA was being prepared, which would allow Europe's young people to gain professional experience in other countries in the community. New resources are also being sought for the Next Generation program, which funds various projects to rebuild the EU economy after the coronavirus pandemic. The main emphasis is on the green economy, education and other sectors.
"Young people in Europe have filled words with empathy with content," Von der Layen said, pointing out that the young generation is ready for bold action and is the hope for the future of the community.
In the conditions of severe crises - health, economic, we have managed as a "United Europe", said the President of the European Commission to MPs and added that more tests are ahead, especially because the countries are not recovering at the same speed.
She also noted that the EC will strictly monitor compliance with European values, such as compliance with the rule of law. Equality before the law is a right that must be respected by all countries and that this principle must be respected throughout Europe, Von der Layen added. The EU will soon begin serious work to protect European budget funds. "Corruption undermines the foundations of democracy," she said.
With regard to the fight against coronavirus, the EU will focus on accelerating the vaccination of third countries. The data show that less than 1% of vaccines are in low-income countries. There are also "worrying differences" regarding vaccination of the population in EU countries.
Von der Leyen pointed out that more than 700 million doses of vaccines have been given in EU countries, and more than 70% of the adult population of the community has already been vaccinated. But nearly half of the EU's vaccines have been exported and distributed to 130 countries around the world.
"The pandemic is a marathon, not a sprint," she said, adding that the results were due to empathy and work "as Europeans." The EC will also work to better prepare for a pandemic response.
With regard to the economy, the community has learned lessons and the recovery of gross domestic product will not take a decade, as was the case with previous economic turmoil. The EC will analyze economic governance and a number of reforms are forthcoming, targeting, for example, the labor market in Spain, the tax system in Austria, digital skills, 5G and digital technologies in general.
Another priority will be the fight against tax evasion and financial fraud. The profits that businesses generate are due to social infrastructure, education and companies have to pay fair taxes for this.
The EU will restrict the import of goods from countries that use forced labor, as "human rights are not a commodity," Von der Layen said in a speech.
Scientific data is already clear - climate change is due to human activity, said Ursula von der Leyen. She was adamant that now was the time to act and cited as an example some of the measures that European countries are taking. In recent months, for example, a very large number of electric cars have been registered in Germany. The EU will set up a Social Climate Fund to help fight energy poverty. 34 million Europeans in a state of energy poverty, recalled Ursula Von der Leyen.
She pointed out that each continent has its own responsibility in the fight against climate change, but the leading economies must support poor countries and the EU will allocate 4 billion euros a year in this regard. Von der Layen called on other partners to follow suit. The EU and the US can send a very strong signal to the world community in the fight against climate problems, and the world will "rest" if there is a clear strategy to reduce emissions from China, added Von der Layen.
"We are with the people of Afghanistan," the EC president said. She pointed out that with regard to international crises, the community works with other international organizations, but also "can and should do more on its own".
Von der Layen explained that they are working to create an EU Defense Union to reduce the community's dependence in this area. Work must be done to improve cybersecurity, to produce weapons in EU countries, so that the community can have an independent defense policy. "Europe needs to go one step further," she said.
In his speech, the EC President outlined more measures to protect media freedom. Legislation is being prepared at EU level to guarantee media freedom. "The media are not economic entities, they must work in the conditions of independence," she was categorical.
08.09.2021
CENSUS 2021
In 2021, a census of the population and housing stock in all Member States of the European Union is forthcoming. The largest statistical survey will provide reliable and comprehensive information on the number and characteristics of the population and housing.
Census 2021 will take place between September 7 and October 3, 2021. In the period September 7 - September 17, 2021, everyone in the country will be able to count themselves and their families electronically by filling out an online census card of Census 2021 Home - NSI Census 2021 (census2021.bg).
You can get acquainted with the counting card in advance at the address: karta_jilishta_16str_obrazec.pdf (census2021.bg)
01.09.2021
A NEW PENSION MECHANISM FROM TODAY
The change guarantees a higher amount of benefits paid by the insurance institute in the second pension pillar as well.
As of today, the National Social Security Institute starts calculating pensions under a new mechanism. This applies to people who are about to retire and who will receive a second pension from private funds.
The reduction, or so-called reduction of the state pension, will already be half of what was done until yesterday. The change guarantees a higher amount of the pensions paid by the insurance institute for the insured in the second pension pillar as well.
Anyone who meets the conditions to receive an employment pension, has accumulated the required length of service and age and from today onwards applies for a pension at the National Social Security Institute will benefit from the new methodology when he has kept his funds accumulated in a private fund. His state pension will be reduced by about ten percent, instead of 20 percent, as has been the case so far.
"We expect about 50 percent to reduce the reduction, that is - if the reduction for a particular person was about 20 percent, now to be under the new mechanism for reduction of about ten," explained to BNR the director of the Pensions Directorate at NSSI Lyubomira Yazadzhieva.
People with already granted disability pensions, such as seniority and age, which have been calculated with a higher reduction rate, can request a recalculation under the new mechanism by 30 September next year. This requires the submission of an application, which can be downloaded from the NSSI website.
About 172 thousand people already with disability pensions, such as seniority and old age, which were calculated with a higher reduction rate, can request a recalculation under the new mechanism by September 30 next year. The recalculation is not automatic and requires the submission of an application, which can be downloaded from the NSSI website.
However, for those who are at a minimum size, it is unlikely to have a positive effect. "This is especially true for disability pensions - out of 151 thousand disability pensions granted with a reduction of the coefficient, almost 70% are below the minimum," Yazadzhieva added. For 15,000 young retirees with seniority and old-age pensions, the recalculation would increase pensions.
Also as of today, private pension companies are starting to provide funds to those who have reached the general retirement age. The money will be paid depending on the accumulated on the personal accounts and after concluding a contract for selection of a pension product.
Daniela Petkova from the Association of Supplementary Pension Insurance Companies commented:
"There are several payment options, including three types of lifelong pensions. One must receive the relevant information in order to find out in one's exact decision which of the three types one prefers to start receiving. In recent months, many people have called us - from those who are about to retire, we have informed them. But the first step from people's point of view is to get reliable and comprehensive information about their insurance rights."
01.09.2021
THIS IS WHERE IN OUR COUNTRY THEY GIVE THE GREATEST BENEFITS TO UNEMPLOYED FOREIGNERS
Foreigners in our country who have lost their jobs receive the highest benefits in Targovishte. This is clear from the last published bulletin of the National Social Security Institute - for May this year.
According to the NSSI, the average amount of unemployment benefits received by a foreign citizen in Targovishte is BGN 958, and the average amount of this benefit in Sofia is BGN 20 less. At the same time, the average amount of compensation for Bulgarian citizens in the country is about BGN 463, with the highest value in the capital. There, the unemployed Bulgarians receive an average of about BGN 600 in unemployment benefits.
According to experts, the reason for such a difference is very simple - foreign nationals who receive benefits in our country have previously been insured for a much higher amount in another country. In addition, their number is far smaller and therefore the average amount of their benefits is higher than that of the Bulgarians, the publication points out.
By law, however, even if someone, whether a Bulgarian or a foreign citizen, has been insured abroad for very high amounts, in our country he has the right to receive 60% of the maximum insurance threshold for our country. At the moment it is BGN 3,000. This rule also applies to those working in our country. Even if they receive wages far above this threshold, they will also be entitled to compensation of 60% of it.
According to the data of the National Social Security Institute, over 17,000 foreign citizens are insured for unemployment in Bulgaria, and only 87 people from abroad receive compensation. At the same time, the insured Bulgarians in our country are 2,493,414, and the unemployed registered at the labor offices are 186,047. However, only a third of the latter receive unemployment benefits, or 65,609 people. The reason is that they have either already exercised their right to benefits in previous months, or they are not entitled to one because they are permanently unemployed.
The NSSI bulletin states that in 2021 the right to cash unemployment benefits have persons for whom insurance contributions have been paid or are due to the Unemployment Fund for at least 12 months in the last 18 months before the termination of insurance. In addition, they must be registered as unemployed with the Employment Agency and have not acquired the right to a pension for length of service and age in Bulgaria or in another country. Another condition is that they do not receive a pension for length of service and age in a reduced amount or an occupational pension. It is also required that persons do not engage in employment for which they are subject to compulsory insurance under CSR or the legislation of another country.
The daily unemployment benefit amounts to 60% of the average daily wage or the average daily insurance income on which contributions have been paid or are due to the Unemployment Fund for the last 24 calendar months preceding the month of termination of insurance. It may not be less than the minimum and greater than the maximum daily amount of the unemployment benefit determined by the State Social Insurance Budget Act for each calendar year. The minimum daily amount of the unemployment benefit for 2021 is BGN 12.00. The maximum daily amount of the unemployment benefit for 2021 is BGN 74.29. The cash benefits are paid for a period depending on the length of the insurance period. The period of service after December 31, 2001, during which they are insured for unemployment, shall be considered as insurance length of service of the persons. The minimum amount for a period of 4 months is also received by those of the unemployed persons who have acquired the right to compensation before the expiration of three years from the previous exercise of the right to compensation.
Aid can also be taken abroad
People retain their right to unemployment benefits granted in one Member State when they go to look for work in another Member State, subject to strict conditions, experts explain.
First, before leaving, the person must have been registered as a jobseeker with the employment services of the competent state for at least four weeks after becoming unemployed.
Secondly, when going to another Member State to look for work, he must be available to the employment services there within 7 days after he has ceased to be available in the country concerned and to follow the control procedure organized there.
If, within three months of the date on which he ceased to be available to the employment services in the competent State, the person returns and re-registers as a jobseeker, he shall continue to receive the unemployment benefit granted to him for the remaining period.
It is important to know that after the expiration of the three-month period the person loses the right to the remainder of the compensation granted under the national legislation, the experts specify.
Companies cut the unskilled first
Companies are laying off people without qualifications first, according to an analysis of data from the Employment Agency. According to them, the group of the unemployed without qualification and specialty continues to be the most numerous. The level of registered unemployment in the country this year continued to decline and in July reached a record 5.0% for the month, according to data from the administrative statistics of the Employment Agency. The decrease compared to the previous month is by 0.2% and the decrease on an annual basis is by 2.9 percentage points - from 7.9% in July 2020 to 5.0% in July 2021. Compared to the end of July 2019 - a year as a whole record growth in employment, the unemployment rate also fell by as much as 0.3 percentage points.
31.08.2021
THEY GIVE GRANTS TO SMALL COMPANIES
The budget for the procedure is BGN 184 million
The payment of the grant under the concluded contracts under the procedure "Support for small enterprises with a turnover of over BGN 500 thousand for overcoming the economic consequences of the COVID-19 pandemic" with a total budget of BGN 184.6 million has started.
This was announced by the Ministry of Economy. They also remind that BGN 78 million were initially pledged under the procedure, but after a decision of the Council of Ministers an additional financial resource was provided for over-negotiation in the amount of nearly BGN 106 million.
The additional funds provided will allow for the gradual renegotiation of companies from the reserve list, thus the funding will cover many more companies than the ones originally approved.
Nearly 3,700 companies are expected to benefit from the grant.
As of August 24, the access system in the Information System for Management and Monitoring of EU Funds in Bulgaria (UMIS) is open, where approved companies can submit their reports.
As of August 30, 24 copies have been submitted. final reports, specified by the economic department.
30.08.2021
DO I NEED PERMISSION IF I WANT UNPAID LEAVE?
The employer, at the request of the employee, may allow him to use unpaid leave. Here we must pay attention that Art. 160 of the Labor Code provides a legal possibility for the use of unpaid leave, but it is not a subjective right of the employee and its use is with the permission of the employer. The use of unpaid leave does not depend on whether the employee has taken the appropriate paid annual leave. In addition, the use of unpaid leave does not depend on the length of service of the employee.
In para. 2 of the same article, however, the legislator obliges the employer to allow the one-time use of unpaid leave, up to one year, to a worker who is in a legal relationship with an institution of the European Union, except in the cases under Art. 120a, with the United Nations, with the Organization for Security and Cooperation in Europe, with the North Atlantic Treaty Organization or with other international governmental organizations. The right to use this leave is one-time and cannot be re-used, including in case of change of employer. The employer is obliged to dismiss the employee only if the described prerequisites are present, and only the persons for whom the above requirements are met are entitled to such leave.
The employee in order to use the leave under art. 160, para. 2, must submit to the employer, together with the application for leave, evidence that he actually meets the requirements for the use of this type of leave.
The use of unpaid leave is at the initiative of the employee by submitting a written request to the employer. The application must contain the beginning of the use and the duration of the leave, determined in working days. In order to give his consent and authorize the use of the leave, the employer issues a written leave order.
The unpaid leave under Art. 160 of the Labor Code shall be considered for length of service up to 30 working days for one calendar year, and over 30 working days, only if this is provided for in the Labor Code, another law or normative act of the Council of Ministers.
26.08.2021
ENTREPRENEURSHIP: HOW FINTECH SOLUTIONS PUSH SMALL BUSINESSES FORWARD
New technologies provide a competitive advantage
Autumn is coming, especially for small entrepreneurs. However, some retailers have already realized that they can stay competitive by using fintech solutions designed specifically to help small and medium-sized businesses.
We are talking about innovations such as accepting contactless payments over the phone, fast and free creation of an online store and POS terminals that give immediate access to the funds received.
Small companies can afford all this for a small investment thanks to the Bulgarian company myPOS, which for the second year in a row won an award for innovation from the prestigious FinTech Breakthrough forum, which evaluates the best financial technologies in the world.
myPOS has over 130,000 business customers in over 30 European countries, and one of the company's unique innovations is the myPOS Glass mobile app, which turns an ordinary Android phone into a POS terminal via the NFC chip available in most smartphones. To make a payment, customers simply need to bring their card or smart accessory to the back of the merchant's phone.
It is the myPOS Glass application and the use of NFC technology that attract the attention of Nikolay Nikolov, owner of a pet store and two computer repair shops in Sunny Beach. "I work with 60% of foreign tourists and 40% of them prefer to pay by card," he explains. missed because people only had a card in them and if I didn't have the option to pay me, they would just leave, "Nikolov added.
Easy to use applications and secure increase in turnover
Initially, Nikolov was attracted by myPOS Glass, but decided to invest in the compact myPOS Go terminal, as according to him its price is very affordable, and it happens that there are customers whose cards are not contactless. He says he uses both devices actively because they make his business easier.
It is a great convenience for merchants like him that with myPOS they get a complete solution for accepting card payments: easy-to-use POS terminals; immediate absorption of the accepted funds; free online commercial account with IBAN; free Mastercard business debit card and other tools.
Nikolov also says that for him the biggest advantages are the free applications and the low fees. "The investment is minimal for what you get, namely quality service, easy work with applications and certainly increased turnover," he added.
Flexible products that help businesses grow
Also important is the fact that myPOS has no monthly fees, which is a peace of mind for small businesses. "All products are designed to help the business, not burden it," said Maxim Kochnev, CEO of myPOS. Businesses currently need smart solutions to help them meet customer requirements and emergencies without serious investment."
According to Kochnev, myPOS is always looking for ways to respond to customer needs, which leads to an increase in sales - last year the reported growth was double-digit despite the pandemic, and this year sales are growing by another 60 percent on an annual basis.
"The dynamic changes caused by the coronavirus have given us a reason to start working on fast-growing projects that we can be proud of. For example, when we launched myPOS Glass, another company developed a similar solution for accepting card payments over the phone, was acquired by Apple for one hundred million dollars. This clearly shows that in myPOS we have the ability to feel the market and the needs of our customers, "explains Kochnev.
Good market research also inspires the company's latest service - the myPOS Online platform, with which every merchant can build and manage a free online store.
What makes the service one of a kind is that the merchant only pays when he makes a sale.
Free online store to promote sales
myPOS Online offers a huge range of features, including inventory tracking, modern methods of secure payment, delivery or pick-up options, as well as pre-prepared design themes from which merchants can choose the most suitable for their online store. The free service also includes hosting.
Even those for whom it was unthinkable to trade electronically can now do so, because myPOS Online takes care of all the requirements and details. No technical knowledge in the fields of programming or design is required, and myPOS has taken care of the secure acceptance of online payments, as well as legal documents. The platform also offers an optimized check-out process, a high level of security, support, order tracking and features for easy communication with customers.
"If a few years ago the online presence of business was recommended, now it is necessary. The pandemic is not over yet, and all analyzes predict the growth of e-commerce," Kochnev said.
Indeed, online payments in Central and Eastern Europe are growing exponentially as a result of COVID-19. The demand for contactless payments and automated service - the so-called self-service, or self-service machines - is also increasing.
Automated payment solutions corresponding to the new reality
"In Japan, the variety of vending machines, where it is possible to buy virtually anything, has long been new. This trend is also coming to Europe, partly out of necessity. For example, in 2020 the first vending machines selling masks and antibacterial gels appeared. In the new conditions, consumers demand an improved experience, which is associated with round-the-clock, secure and contactless access to a variety of goods and services," said Dimi Ilieva, Marketing Director of myPOS.
To meet the demand, a number of Bulgarian companies partner with myPOS and thus manage to offer consumers improved automated service, in line with global trends. Examples are Yantra Technology and Digital Receptionist Eva.
Yantra Technology offers automated parking solutions in some of the largest retail outlets and business centers in Bulgaria. Their counting and traffic flow control systems are integrated with myPOS Mini and myPOS Integra devices, which enables electronic payment.
"More and more people have the need and desire to pay contactlessly, because it is much easier," summarize the company's co-owners Orlin Petrov and Iliya Topalov.
The latest functionality presented by Yantra Technology in partnership with myPOS is the ability for customers to pay via QR code for their parking stay.
"You scan the ticket code while you're in the car, the system checks your stay and all the other details and shows you what you owe. So you can pay while traveling to the barrier - by card or with Google and Apple Pay. No need to leave the car or to look for a payment machine", explain Petrov and Topalov, who have been partnering with myPOS for more than a year.
The other interesting partner of the fintech company is "Digital receptionist Eva" - a kiosk that fully automates the hotel check-in. It speaks all the necessary languages and also accepts payments via myPOS terminal.
"Hospitality is a conservative industry, but we already have to look at automation solutions," said Valentin Gadjonov, one of the creators of the digital receptionist. According to him, the digitalization of small business is inevitable and the pandemic has simply accelerated this development.
In addition to meeting emergency conditions and providing staff protection, the digital receptionist is an excellent option for small hotels that do not have the physical ability to cover night shifts.
In fact, all myPOS payment solutions are designed to work around the clock so that the business can grow constantly. The idea of the fintech company is not just for retailers to have access to various services, but to take advantage of a comprehensive business management package. Therefore, myPOS continues to evolve into a business hub in which the merchant has access to important business management tools through his account.
"In myPOS we can not continue only in the space of POS terminals, not only because we can see early what lies ahead, but also because we have the resources and motivation to offer the business working with us much more than payment terminals," says Ilieva.
"Not to mention that with the pace at which the financial and technological world is moving, the time is not so far when physical payment devices will be replaced by virtual ones. Even now we pay in cyberspace with a single QR code. In many countries now the trend is towards full digitalisation and transfer of payments in a fully mobile environment", she added.
It is clear that the digitalisation of business is inevitable. Importantly, however, some technology solutions give businesses a chance to stay liquid in difficult times. Companies like myPOS create innovations to make it easier for merchants and help them reach new customers, and most customers are looking for change.
"We are definitely seeing an "opening" of both consumers and traders to fintech solutions," said Dimi Ilieva. "The good news is that there is significant development of the sector in the country - in their latest survey Findexable ranks us 39th in the world, with 17 positions ahead in one year, and judging by the leading markets of myPOS - France, Italy, the Netherlands, the rapid development of card payments and related technologies in the country is yet to come."
25.08.2021
OPPORTUNITIES FOR GRANTS OF GREEN BUSINESS PROJECTS
Bulgarian companies will compete with the other in the EU for LIFE 2021-2027 funding
The European Commission announced in July the first LIFE 2021-2027 Procedures. It promotes projects related to two areas - environment and climate action. The program consists of four sub-programs - "nature and biodiversity", "circular economy and quality of life", "mitigation and adaptation to climate change" and "transition to clean energy". Its total budget for the period 2021-2027 is 5.4 billion euros, with two of the procedures open to the application being particularly interested in business.
The first is a "Circular economy, waste resources, air, water, soil, noise, chemicals, Bauhaus" with a total budget of EUR 95.420 million. The eligible project budget is within 2-10 million euros, with the grant to 60% of it. Projects related to innovative technologies, methods and approaches or best practices (both at a Member State or sector level) are supported in the sphere of:
Projects should contribute to reducing resource consumption and facilitating the transition to sustainable, circular, non-toxic, energy-efficient and climate-resistant economy; reducing the formation and improvement of waste management; protection of water resources, air, soils; Reduction of production, use and emissions of hazardous chemicals; reducing exposure to harmful noise levels.
The first procedures are already open.
The second open call for application of particular interest to business is "Mitigating climate change" with a total resource of EUR 30.5 million. Supported projects are expected to be within 1-5 million euros each, and the grant can again reach 60%. Eligible activities are related to the introduction of innovative technologies, methods and approaches or best practices (both at a Member State or sector level):
Both calls may apply legal entities (public and private) without limitation on their size (including native and large enterprises), associations and international organizations.
Eligible costs on both funding opportunities include purchasing equipment and depreciation, land purchase (under certain conditions), subcontract costs, indirect costs (up to 7%), staff remuneration, road, daily and cost Third countries necessary for the implementation of the project. Partnerships are not mandatory for participation, but their presence is better evaluated.
The deadline for application for non-grants "circular economy, waste resources, air, water, soil, noise, chemicals, Bauhaus" and "mitigation climate change" is 30 November 2021, and project submission is electronic through the European Commission's portal.
24.08.2021
ENTREPRENEURSHIP: INVESTMENT CREDIT TO LAUNCH A SMALL BUSINESS
Creative freedom, personal satisfaction and financial independence. As the owner of a business person, he has the opportunity to work in an area he really likes. In addition, there is freedom to use their skills and knowledge and get personal satisfaction from applying their ideas for business success.
Launching your own business is not an easy venture. However, there are many young entrepreneurs in Bulgaria seeking lending to small business loans. One of the basic conditions is the existence of initial rental capital, equipment, inventory with which most people do not have. And if you do not have enough money or Business Angel, investing in your idea, you have to resort to taking a loan.
Assistance comes banks and other financial institutions offering a variety of types of company and quick credit to launch small and medium businesses. Suggestions are numerous and with a variety of options. You can find loans without a guarantor, rapid corporate loans without collateral, with no business plan with low interest, with minimum documents and many more opportunities for newly opened companies.
Determine the amount required
Often, people think they will need an impossible amount to develop their business idea. The truth is that there is no huge capital for the launch of a small business. Calculate the amount that is the absolute minimum to start work. It is very likely to be surprised when you find that it is not as big as you have done at the beginning.
To begin with, invest a certain amount and wait for you to start receiving income from your company before you put on more money. Therefore, when drawing credit, I specify the minimum you need for a start. Do not risk a larger amount so you do not fall into a difficult financial situation from the start of the venture.
To determine with greater accuracy the required amount of this credit to launch a small business, make a list of all available resources. Including savings, partners, materials, skills that you can put into the idea. All these things can reduce the total you consider to download. Finally, it may be enough that they are enough to start without credit.
Is the business loan being profitable?
If you still consider that you need greater initial capital thanks to the loan you will get quick funding for all your urgent costs since the startup itself. However, it is likely that such a loan requires collateral in the form of movable or immovable property.
Many banks and other financial institutions offer different business loans. When withdrawing such a loan, you will have to go through Red Bureaucratic checks that can delay the granting process. Loans are usually long-term, with free repayment of the principal, interest rates only on the absorption, the amount of which changes depending on the amount of monthly transactions incurred.
If you need urgent money to start your own business, you can also contact creditors who offer quick credits. In their application, the application procedure is much more lightweight, so you will receive the required amount significantly more soon. The minus is that usually the conditions are not as advantageous compared to banks, as the deadlines are shorter and interest - higher.
That is why it is important to answer the question how urgently you need the money. This will judge the situation objectively so you can choose the creditor right for you. Emergency costs for a new business are, for example, purchase of raw material for production or workers' salaries. In all other cases, you need to make sure that the money input will multiply as to allow you to pay the credit with interest and bring you a profit.
What are you watching for?
Before proceeding to signing the contract, carefully get acquainted with all clauses on it, which may include hidden fees and other unfavorable conditions. Make sure you understand the value of the penalty fees in case you are late with a contribution. Inform with which credit agent, you can contact the emergence of questions, problems or complaints and whether there is a person who could protect your rights.
When choosing a financial institution from downloading the loan, study all possible options, offers and promotions. Online has easily accessible information that will help you compare the proposals at an initial stage. The right choice will save you a lot of money and problems in the future. For example, lower interest rates necessarily mean that credit is cheaper, so pay attention to all conditions.
Loan applications in banks follow certain rules and policies before approval. There is always a risk that the requirements not be met by the applicant and the credit for a start-up business is prevented. Therefore, before applying for a loan, check all the criteria that the Bank requires to start processing the application. If you don't do this you may lose a lot of time and effort.
If you are looking for rapid funding for a non-history company that is facilitated applying, the micro credit is also a variant. It is a small amount for a short period of time and money can be at your disposal within a few minutes after approval. Be careful, however, do not come across fraudulent non-bank institutions to abuse your trust.
To make sure the creditor's honesty, the first thing you need to do is check if the company has a license from the BNB and what is the source of funding. Do not download a micro credit that you will not be able to cover with income from your business because it can often get to withdraw a new micro credit.
Credits are secured against assets and this can become a major problem if business does not bring enough earnings to repay the creditor. If your activity does not generate the required profit, you will have to betray your assets. Therefore, you should carefully consider whether to secure the loan against assets at risk of losing some of their business.
16.08.2021
THE SEARCH FOR INTEREST-BEARING LOANS ON THE BDI GUARANTEE PROGRAM CONTINUES
The anti-crisis measure is extended by the end of August
BDB continues to provide liquidity and security for companies affected by the Covid-19 pandemic. In June to the business, they have reached guarantees for funding provided for BGN 24 075 560 under the 151 contracts concluded.
In July, banks' banks in the anti-crisis program received from BDR confirmation to guarantee 94 credits worth more than BGN 23 million. Loans for over BGN 320.3 million were allocated in 2020.
The recently renovated BDB's warranty program will enable Bulgarian companies to apply at shorter approval and relieved collateral requirements.
"In this way, the government synchronizes the program with the Mechanism for Intervention and Support" A portfolio guarantee to overcome the consequences of the COVID-19" (" Recovery Program"). Funding can be up to BGN 3 million, regardless of the size of the company, and the term for repayment of credits is up to 7 years with the possibility of up to a 3-year grace period. The EC approval is expected to enter into force the new program conditions", say BDBs.
Continue and demand for interest-bearing loans on the Bank's Guarantee Program in support of people who can not work because of the pandemic. The anti-crisis measure is prolonged until the end of August or depleting the limit in partner banks. For the last two months, 3,463 credits for nearly BGN 18.8 million were guaranteed.
Since 2020, 52,555 people benefited from 2020, and the amount of funds allocated is over BGN 252.2 million.
