The new “Recovery” program in support of business through guarantees from the Fund of Funds is now open to final recipients. Such can be Bulgarian small and medium enterprises.
The program will provide wide access to business loans (up to BGN 3 million) to meet current liquidity needs, for new investments, transformation and growth.
There are no requirements for material collateral, ie. an unsecured loan is permissible, except for personal guarantees provided by the owners of the applicant company.
The program allows for negotiating a 12-month grace period and rescheduling the payment up to 84 months.
Obtaining the approval will be in a shorter time while minimizing the administrative burden for the client.
The total financial resource under the Reconstruction Program is BGN 157.9 million.
The purpose of the Program is to facilitate the access of the business to loans for restoration of the activity after the gradual abolition of the measures in connection with the KOVID-19 pandemic.
Detailed information and updated list of the financial intermediaries (banks) could be found at https://www.fmfib.bg/bg/fi/20-dalgovi-instrumenti/15-garantsii-po-opik – https://www.fmfib.bg/bg/fi/20-dalgovi-instrumenti/15-garantsii-po-opik.