Subject of funding - the subject of funding may include the provision of working capital for the business needs of the borrower.
Maximum amount of the funding - up to 100 000 Euro (or their BGN equivalent).
Term of use - 12 months with an option for annual renewal up to five years. Within the period of use the customer may repeatedly utilize and repay within the agreed amount.
Annual interest rate - from 7% to 9.5% at a fixed rate or 3m. Euribor / Sofibor + 6.75% to 9.25% at variable interest rates.
Types of collateral - pledge of movable property (machinery and plant, equipment, vehicles, materials, etc.), real estate mortgage, pledge of receivables, guarantee by a third solvent party, promissory notes, bank guarantees, pledges of a going concern, cash collateral, pledge of securities, other eligible collateral under the applicable legislation.
Criteria for preliminary selection of applicants for funding:
- To have a viable business idea the implementation of which could lead to the creation of new jobs;
- To operate in the field of production, trade, services and/ or agriculture;
- To enjoy a good reputation among the local community, and to be creditworthy parties;
- To be (re)registered in the Trade Registry with the Registry Agency /if applicable/;
- To provide financial resources for their own participation in the investment.