The Colonel's Farm – this is how people in the industry know one of the largest cattle farms in the Sliven region. Panayot Todorov is a former colonel who brings military zeal, discipline and patriotism in raising cows. He started animal husbandry years ago because he wanted to stay and develop in Bulgaria.

"Many of the young farmers do not have facilities. They do not have long-term tangible assets to secure their loans. When I was in Germany in 2003, I saw how their guarantee fund works, how it encourages people who had desire to work" the farmer said.

Therefore, when he had to finance the project won under Measure 121 of the Rural Development Program (RDP) for the modernization of his farm, Panayot Todorov looked for a loan opportunity with the participation of the National Guarantee Fund. He received approval for funding with the support of the fund and thus managed to implement a very important project for the development of his farm under better terms and conditions.

"The National Guarantee Fund exists, why shouldn’t one use its services? The guarantee is free, and you do not pay any fees for 10 years. Now, with the support of the fund, the interest rate on my loan is 6%, and in the previous project without NGF it was 8.5%", Todorov says.

He is pleased that thanks to the new project his farm has been modernized and work is more efficient now.

"First of all, the conditions for raising animals are better, the morbidity in cows has reduced, and the milk yield has increased. Secondly, the work on the farm has become easier. We now have the necessary mechanization and equipment to facilitate our operations", the Colonel says in satisfaction.