Financial and business news from Bulgaria

Up to 1 million aid in the pandemic for enterprises

From 300 000 to 1 million levs to raise the maximum credit that BDB can grant to small and medium-sized companies in aid against the coroncrisis.
This is one of the changes to the portfolio investment program that the Ministry of Economy offers to the Cabinet.

Aid can also be given to large enterprises, and its amount is up to BGN 2 million, the office of Lachezar Borisov also offers.

The Ministry wants to extend the limit of guarantee payments from 30 to 50%, as well as the term of the program by half a year - until the end of June next year, with the application to be until 20 June. The grace period for existing loans should also be until 30 June. The portfolio loan guarantee shall be raised from 5 to 6 years as much as the maximum permissible. It is also proposed to ease credit requirements.

Another change is that funding is not only for liquidity, but also for other needs, and banks can reduce the risk interest margin so that loan rates fall. BDB to analyse the possibilities for using the Pan-European Guarantee Fund counter-guarantee instrument, which will allow support to reach more companies under improved conditions.

For the last 2 months, the measure concerning the support of individuals to the BDB has realized a digestibility of BGN 85 million, with which more than 20 thousand individuals have been supported. Beyond that, the BDB impacts the business through its program, through which more than BGN 80 million have been absorbed to nearly 600 companies.