05.01.2022 NGF invites commercial banks to participate in a new guarantee scheme in partnership with the Black Sea Trade and Development Bank
The National Guarantee Fund invites commercial banks to participate in a new risk-sharing guarantee scheme with the Black Sea Trade and Development Bank. The programme is aimed at helping small and medium-sized enterprises in Bulgaria to cope with the impact of the COVID-19 pandemic.
All commercial banks in Bulgaria are eligible to apply and the final date to submit an expression of interest to participate in the guarantee scheme is 31 January 2022.
The programme will provide fresh resources of BGN 150 million to hundreds of small and medium-sized enterprises across various sectors at relaxed collateral requirements and lower interest rates. It will be implemented through partner banks, guaranteeing 80% of the loans provided. The inclusion period for new loans is 24 months and the guarantees are valid for up to 60 months.
The scheme is targeted at both existing and start-up companies and provides for guarantee of investment and working capital loans as well as limits on bank guarantees.
More information on the product can be found here.