site.btaBulgarian Development Bank Offers Soft Loans to Small, Midsize Businesses

The 920 Bulgarian micro-, small and medium-sized companies, whose project proposals have been approved and which will share up over BGN 93 million in grants for energy efficiency improvement under Operational Programme Innovation and Competitiveness 2014-2020, will be eligible for direct loans ranging from BGN 100,000 to BGN 500,000, the Ministry of Innovation and Growth said in a press release.

The Bulgarian Development Bank runs the BGN 30 million programme, which will not be limited to EU funds beneficiaries. The proceeds can be used, among other things, for the 50% co-financing required under the Operational Programme and for further energy efficiency action.

Borrowers will take advantage of 100% project financing excluding VAT, a possibility to draw down the money even before the grant contract has been signed, and minimum collateral requirements.