Who meets the requirements?
Companies registered in the country which meet the criteria for small and medium-sized enterprises pursuant to the Act on Small and Medium-Sized Enterprises.
What investments meet the requirements for financing?
Every economically sound and environmental investment in the country under projects envisaging the development of the economic relations with the following countries: Kingdom of Denmark, Republic of Finland, Republic of Iceland, Kingdom of Norway, and Kingdom of Sweden, as well as Lithuania, Latvia and Estonia.
What amount of funding can be provided?
Up to 75% of the value of the investment project (VAT exclusive) can be financed under the programme. The remainder of the project should be financed with funds of the borrower.
Priority will be given to loans with a minimum amount of EUR 200 000. The maximum amount of the loan can be EUR 1 000 000.
The following may be subject of the investment:
- purchase of equipment for generation of electrical energy from natural renewable resources;
- purchase of machines and equipment;
- purchase of construction equipment and machines;
- furnishing of offices and shops;
- purchase of specialized medical equipment;
- purchase of transportation vehicles;
- working capital as part of the financed investment project.
Loan conditions
Term - from 3 to 10 years depending on the term of return on the investment.
Grace period - up to 3 years depending on the risks under the project.
Interest rate - market rate in accordance with the risks of the project.
Special interest rate preferences will be given when at least 35% of the deliveries under the financed project are from countries listed above, as well under investment projects of companies representing the business interests of those countries in Bulgaria.
Interest rate - depending on the risks of the project and the term of return on the investment.
Interest on the loan is due monthly.
Repayment of the principal starts after the grace period. The manner of principal repayment is negotiated individually with each borrower.
Collateral
The collateral is in accordance with the banking legislation.
Under certain conditions the bank extends loans under relieved requirements for collateral (up to 85% of the amount of the loan) owing to a guarantee issued by the European Investment Fund under the multi-year programme for small and medium-sized enterprises of the European Community.
Assets that are subject of the investment project are also acceptable as collateral of the loan.
