Questions and Answers
The bank refused my loan because my employer was not in line with my insurance. Is it possible for me to apply again after he has fulfilled his obligations?
Yes, you can apply again to the same or another partner bank in the program. It is important to know that you can get a loan under the Program only from a single commercial bank.
What are the documents for employees on unpaid leave?
Is there a sample declaration for paid insurance contributions and if so - where can it be found?
You declare that you have paid insurance contributions in your loan application, which will be provided to you on the spot in the commercial bank to which you are applying. The Bank checks this circumstance in a regulated accessible database of the National Social Security Institute / NRA. The data will be provided to the bank remotely after you give your written consent for the processing of your personal data.
Why did BDB refuse my loan?
BDB neither approves nor refuses loans under the program. It includes the loans sent to it by the commercial banks in a portfolio guarantee issued by it.
What are the documents for self-insured persons?
Registration document, declaration of discontinued operation, document for decline in income. See more about them here.
Can people with dual or foreign citizenship receive an interest-free loan?
Yes, if they work legally in the country and meet the other requirements of the program. The persons must also have a permanent address on the territory of the Republic of Bulgaria.
Can I apply for a loan if I am on a fixed-term, probationary or part-time contract?
Yes, as long as you meet the conditions of the program - to be or have been on unpaid leave, not to take advantage of another government measure related to the COVID-19 pandemic, and to declare that you will return to work in the same company .
Can I apply for an interest-free loan after being on unpaid leave but returning to work?
Yes, according to the changes in the rules, you can now apply for a loan if you have returned to work. It is important that you have been on unpaid leave since March 8, 2020.
Can I apply if I receive a side income from rent but am on unpaid leave?
Yes. For the bank to which you are applying, the impossibility to perform labor activity and, accordingly, to receive remuneration for it is decisive. Rental income is not income from employment and does not preclude the opportunity to apply for the program.
The program says that no fees and commissions are due, but the commercial bank charged me a fee. Why?
No fees are due for reviewing and granting the loan, for its management and repayment. Including no fee if you decide to repay it early. Each commercial bank has different amounts of fees for opening and managing accounts, which are not covered by the program.
The commercial bank I applied to refused my loan. What to do?
It is important to know that such an event is not an obstacle to apply again, in the same or another bank.
Can a retiree apply for interest-free lending?
Yes, regardless of whether he is on an employment contract or a self-employed person.
Does the type of benefit received (pension) matter?
No, as long as the person meets the other criteria of the program.