Financial and business news from Bulgaria

BDB will grant more 2014 interest-free loans to individuals

The Bulgarian Development Bank will grant as early as 2014 interest-free loans to individuals under its anti-crisis program, BDB said.
They are worth a total of almost £10m. With a decision of the Council of Ministers, the programme was increased by BGN 100 million to continue support for employees and self-employed persons. Thus, since the beginning of the measure, the number of approved interest-free loans is already over 39 790 and their total value is almost BGN 178 million. The loans under the anti-crisis programme to support the business are 1414, totaling BGN 205 million.

Thus, in total, under the two measures - for individuals and companies, BDB has confirmed loans worth over BGN 383 million.

BDB guarantees lending up to one million leva for small and medium-sized enterprises and up to BGN 2 million for large companies that suffer negative consequences of the pandemic. Loans are granted by 9 partner banks. Loans with BDB guarantee are granted under reduced collateral requirements, with a lower interest rate and with the possibility of a grace period of up to 3 years. The average amount of loans so far is 145,200 BGN. The application deadlines for both guarantee programmes have been extended until June 2021.


Related news