COSME+ On-lending Program

COSME+ On-lending Program

Open invitation

In connection with the expansion of BDB’s program for indirect financing of SMEs with guarantee facility and counter-guarantee under the EIF COSME Program, with the support of the European Fund for Strategic Investments (COSME+ Program), the Bulgarian Development Bank invites commercial banks and financial institutions entered in the BNB register under Art 3a of the Credit Institutions Act to state their interest in participating in the allocation of the financing provided under the program to SMEs, according to the framework conditions published on the BDB’s website.

Both business clients of commercial banks and small and medium-sized enterprises, clients of non-bank financial institutions that provide business loans and have an indirect financing agreement signed with BDB under the "COSME+" Program can avail of the low-interest and long-term financing in a total of EUR 33 million, combined with a guarantee from BDB.

The financing is intended to provide SMEs with access to bank guarantees and loans of up to EUR 150,000, with a repayment period of up to 10 years, with a maximum interest rate for the loans of 3M EURIBOR + 5.7% and maximum total fees for a bank guarantee commitment: up to 2% per year.

The renewed "COSME+" Program envisages relaxed requirements for the security of loans/bank guarantees provided to SMEs, priority consideration of projects of start-ups, as well as additional incentives for entrepreneurs who provide working opportunities to people at risk of social exclusion and seeking their integration in society, through the implementation of "social impact projects".

Social impact projects within the meaning of the program will mean investment projects approved for financing by the BDB on-lending partners, the main or predominant goal of which is to provide, through the business of the borrower, real employment and integration of people with disabilities, persons up to the age of 28 who have been brought up in orphanages outside the family environment, and to persons who, as minors, have been sentenced to imprisonment.

All commercial banks and non-bank financial institutions wishing to participate in the implementation of the "COSME+" Program should state their interest to do so in writing to the Bulgarian Development Bank. Along with such statement, applicants must also submit:

  • The parameters and conditions under which they wish to participate in the program
  • The advantages or preferential conditions they offer for SMEs, including those concerning the priority consideration of start-up projects
  • Information about the collateral they offer to BDB
  • Annual financial statements for the last 3 years
  • Regulatory reporting to BNB for the last three quarters
  • Current credit activity rules, together with all annexes
  • Current risk and collateral assessment rules, together with all annexes
  • Current rules for the collection of receivables and the current monitoring of clients, in case they are regulated in a separate internal instrument, together with all annexes

The interest in participating in the COSME+ Program, together with the basic information and package of documents, should be submitted to the Bulgarian Development Bank at 1 Dyakon Ignatii Str., Sofia.

For any questions and information:
External Programs Division
Phone: 02/9306 391, 02/9306 364


The financing is provided thanks to the Guarantee provided by the COSME mechanism of the European Investment Fund and the European Fund for Strategic Investments, established under the Investment Plan for Europe.

The purpose of EFSI is to support the financing and implementation of productive investments in the European Union in order to facilitate and ensure increased access to finance.

Through this guarantee, BDB provides to its nominated partners - banks and non-bank financial institutions, up to 60% credit protection on a portfolio basis for the loans and bank guarantees provided by them to SMEs under the Program.

Participation in the Program does not exclude or limit partnership with the National Guarantee Fund. It is permissible to work with both institutions in the group on the following principle: one sub-transaction in only one COSME guaranteed portfolio. 


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