BDB continues to work in support of businesses affected by the Covid-19 crisis
BDB continues to provide liquidity and security to companies affected by the COVID-19 pandemic. In June, the businesses received guarantees for funding provided worth BGN 24,075,560 under 151 contracts. In July, the partner banks in the anti-crisis program received BDB’s confirmation for the guaranteeing of 94 loans worth over BGN 23 million. Funding applications can be submitted at the offices of the eight partner banks: BACB, Investbank, Postbank, UniCredit Bulbank, DSK Bank, Fibank, Allianz Bank and UBB. Since the start of the program in 2020, loans of over BGN 320.3 million have been granted.
The recently updated BDB guarantee program will enable Bulgarian businesses to apply for shorter approval time and reduced collateral requirements. In this way, the government synchronizes the program with the intervention and support mechanism called "Portfolio Guarantee for Overcoming the Effects of COVID-19" ("Recovery Program"). The funding can be up to BGN 3 million, regardless of the size of the business, and the loan repayment period is up to seven years with a possible grace period of up to three years. European Commission’s approval is expected in order for the new program conditions to enter into force.
The demand of interest-free loans under BDB’s guarantee program in support of individuals deprived of the opportunity to work due to the pandemic continues. The anti-crisis measure has been extended until the end of August or until the limit in the partner banks Investbank and CCB is exhausted. For the last two months, 3,463 loans have been guaranteed worth nearly BGN 18.8 million.
Since 2020, 52,555 individuals have benefited from the interest-free loans granted under the program worth over BGN 252.2 million.