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No additional collateral requirement.
This guarantee instrument is structured and implemented within the Operational Programme Innovation and Competitiveness 2014 — 2020 co-financed from the European Regional Development Fund. The purpose of the Programme is to support micro, small and medium-sized enterprises to overcome financial difficulties caused by the COVID-19.
The maximum transaction amount is up to 70% of the company’s annual turnover for 2019 or 2020 (depending which is larger) but not more than:
Up to 5 years – 1 500 000 EUR / 3 000 000 BGN (or 937 500 EUR for freight transport companies);
Provided that the granted De minimis amount from the current and the previous 2 calendar years, including the De minimis from the current transaction and interest subsidy (if applicable) do not cumulatively exceed 200 000 EUR (up to 100 000 EUR for companies operating in road freight transport).
|Products guaranteed by First Loss Portfolio Guarantee COVID-19||
New loans provided for:
|Guarantee coverage||80 %|
The Final Recipients must comply with the requirements of First Loss Portfolio Guarantee COVID-19 Program and the requirements of the Bank’s Credit Policy.
Micro, Small and Medium-sized Enterprises (with up to 249 employees) registered and operating on the territory of Bulgaria which comply with at least one of the following criteria:
Highly-qualified experts with experience in the field of corporate lending and financial services.