On-lending Program for Credit Cooperatives
The Bulgarian Development Bank invites the mutual-aid credit cooperatives of private farmers (credit cooperatives) to participate in an indirect financing program.
BNB-registered mutual-aid credit cooperatives of private farmers can apply for a loan from BDB, which they will subsequently have to use for targeted subsequent financing of the business activities of their members – private farmers and agricultural producers under such attractive terms and conditions and low interest rates as determined by BDB.
Those wishing to participate in the implementation of the Credit Cooperatives Program should state their interest in using financing to the Bulgarian Development Bank in writing at: 1 Dyakon Ignatii Str., 1000 Sofia. Along with such statement, credit cooperatives should indicate the specific parameters of the request and submit the following documents:
- Document evidencing that the credit cooperative is entered in the BNB register under Art. 3a of the Credit Institutions Act;
- Annual financial statements for the last three calendar years;
- Financial and regulatory reports submitted to BNB for each of the last three quarters of 2018;
- Current statutes, lending rules, risk assessment rules, collateral creation and monitoring rules and rules for the collection of receivables by a private judicial enforcer.
- The Terms and Conditions of the Program and the Funding Application Form can be found here (available only in BG).
For any questions and information:
External Programs Division
Phone: 02/93 06 391, 02/9306 364