Bulgarian Development Bank Starts Microfinancing Program
The Bulgarian Bank for Development will launch a new borrowing program for new businesses and existing small enterprises worth some BGN 20 M, announced BBD CEO Bilian Balev.
In an interview for the Bulgarian National Radio Thursday, Balev said that the program also features eased requirements for companies wishing to participate.
Among those is a considerable lowering of the co-participation requirement - from 25% to 10% of the borrowed amount.
The microfinancing program for existing companies will cover micro and small enterprises, craftspeople, farmers and self-employed persons.
The credit line for starting companies will feature a one-year period free of payments due on the loans, explained Balev.
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