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No additional collateral requirement.
This guarantee instrument is structured and implemented within the Operational Programme Innovation and Competitiveness 2014 — 2020 financed as part of the European Union’s response to COVID-19 pandemic with funds under REACT-EU. The purpose of the Programme is to support micro, small and medium-sized enterprises to overcome financial difficulties caused by the COVID-19.
|Amount||The maximum transaction amount is up to 70% of the company’s annual turnover for 2019 or 2020 (depending which is larger) but not more than:
Up to 5 years – 1 500 000 EUR / 3 000 000 BGN (or 937 500 EUR for freight transport companies);
Up to 7 years – 937 500 EUR (or 468 750 EUR for freight transport companies)
Provided that the granted De minimis amount from the current and the previous 2 calendar years, including the De minimis from the current transaction do not cumulatively exceed 200 000 EUR (up to 100 000 EUR for companies operating in road freight transport).
|Products guaranteed by Recovery Programme||
New loans provided for:
|Guarantee coverage||80 %|
Micro, Small and Medium-sized Enterprises (with up to 249 employees) registered and operating on the territory of Bulgaria which comply with at least one of the following criteria:
Highly-qualified experts with experience in the field of corporate lending and financial services.
The Bank provides financing on concessional terms through the support of a guarantee from the Fund of Funds. The funds needed to undertake the guarantee commitment are provided under the Operational Program "Innovation and Competitiveness" 2014 - 2020, co-financed by the European Regional Development Fund, also including REACT-EU.