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Start-ups can receive up to € 25,000 from JOBS MFI

Start-ups can receive up to € 25,000 from JOBS MFI. The cost of credit can be formed with a fixed or variable interest rate. In case of fixed-rate loans the interest rate is from 7.25% to 9.50%, while the variable interest rates range from 7% to 9.25% plus 3-month Euribor / Sofibor. In addition, through financing MFI JOBS can help new companies the preparation of their business plan. This was announced by Elen Georgiev, Deputy CEO of the financial institution during the thematic panel presentation of bridge lending and financial products for micro-enterprises and SMEs at the 24th annual meeting of the Bulgarian Industrial Association.

JOBS MFI also grants investment and working capital loans up to € 150,000 to micro and small companies. Investment loans have either a fixed interest rate of 7 to 9.5 percent or a variable interest rate of 6.75% to 9.25% plus 3-month Euribor / Sofibor. The maximum repayment term is 10 years with 12 months grace period. Companies may also apply for working capital loans with a fixed interest rate of 7 to 9.5 percent and a variable interest rate of 6.75% to 9.25% plus 3-month Euribor / Sofibor. The repayment period is up to two years and the grace period can be negotiated depending on the cash flow of the borrower.

The microfinance institution enables businesses to apply under four leasing schemes. Through financial leasing JOBS MFI grants up to € 25,000 for the purchase of new and used machinery, equipment, vehicles and agricultural equipment. The fixed interest rate leases have an interest rate of 7.25% to 9.50%, while the variable interest rates range from 7% to 9.25% plus 3-month Euribor / Sofibor. Their repayment term is 12 to 60 months depending on the leased asset. Applicants may benefit from a 6-month grace period during the first year and up to 3-month grace period for the following years.

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