MFI JOBS became a member of the largest international network of microfinance companies
The MICROFINANCE INSTITUTION "JOBS" became a member of the largest international network of microfinance companies – Microfinance Centre (MFC). The subsidiary of Bulgarian Development Bank will benefit from the of know-howi of over 70 organizations, operating in the field of microfinance, as well as to try new approaches for improving its financial services.
Through the experience of its partners in the network, "JOBS" will have the opportunity to improve its experience in digitizing the credit process, training of potential and current clients regarding the different financial instruments, as well as in implementing the developed Code of Good Practice.
MFI JOBS was established in 2010 as part of the Bulgarian Development Bank Group with main focus on facilitating access to long-term financing of micro and small enterprises, farmers, freelancers, artisans and other companies, creating jobs and products with added value.
The establishment of this institution within BDB Group enabled the use of BGN 6 million accumulated resources from the JOBS Programme, which expired at the end of 2009, for revolving long-term credits.
Since its launch, the company has supported over 512 micro and small entrepreneurs to carry out their projects, lending more than BGN 43 million. One of five supported companies is newly created. The main efforts of JOBS MFI are concentrated in manufacturing, innovation and trade sectors and on preserving jobs. So far, more than 70 loans for more than BGN 3 million have been granted to companies affected by the COVID-19 pandemic.