Subject of funding - agricultural land in Bulgaria
Maximum amount of the funding - up to BGN 300 000
Admission fee (own contribution) - at least 10%
Repayment period - from 12 to 120 months
Grace period - 18 months, maximum six months a year;
Annual interest rate - from 7% to 9.5% fixed interest rate or 3m. Euribor / Sofibor + 6.75% to 9.25% at variable interest rates.
Types of collateral - promissory note; surety; registration of the lease in the SPR
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.