Postbank Launches BGN 30 M Credit Line In Support of Small Companies

Business » FINANCE | August 5, 2015, Wednesday // 15:41| Views: | Comments: 0
Bulgaria: Postbank Launches BGN 30 M Credit Line In Support of Small Companies Photo by BGNES

Postbank will provide support to micro, small, and medium-sized enterprises in Bulgaria through loans worth a total of BGN 30 M granted under preferential terms.

The funding has been provided under a partnership agreement under the new program of the Bulgarian Development Bank for indirect financing of Bulgarian businesses, according to the press office of the bank.

The loan terms include lower fees and interest rates than the standard ones for the market.

The loans will be provided for working-capital purposes and investment purposes, project financing for technological innovation, and improvement of the competitiveness and export potential of small businesses.

The borrowers will have access to financing at an annual interest rate of 3-month EURIBOR plus 4.3%.

The maximum loan amount is BGN 3 M.

The terms also apply to refinancing of loans of small companies, provided that their business plans envisage the opening and maintenance of at least 30 new jobs during the loan period or activities in regions plagued by high unemployment.

Four types of financing may be accessed under the credit line offered by Postbank, including installment working capital loans, installment investment loans, credit lines, and overdrafts.

Projects under EU operational programs will also be funded under the scheme.

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Tags: Postbank, credit line, Bulgarian Development Bank, small and medium-sized enterprises
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