Summary

The National Guarantee Fund was created in 2008 as a part of the Bulgarian Development Bank Group. The Fund issues guarantees, that complement the collateral, required by the commercial banks in order to approve loans for the Bulgarian business. The NGF facilitates the access to finance for small- and medium- sized enterprises and contributes to the decrease of the interest rates of the loans granted to them. The support of the Fund gives an opportunity for loan financing for start-ups and firms with no previous credit history.

What have we achieved so far?

• For the past 12 years the Fund has successfully cooperated with 18 commercial banks and has realized 10 guarantee programs;
• Thanks to our support, more than 9 474 SMEs were granted loans;
• We have widened the scope of firms that the commercial banks are willing to finance;
• We have given the opportunity to start-ups and enterprises lacking previous credit history to access loan financing;
• We have favored the decrease of interest rates on the granted loans;