27.01.2022 BDB to support creative industries and start-ups on even better terms

The Bulgarian Development Bank has renewed the terms of its programme in partnership with the Pan-European Guarantee Fund to support small and medium-sized businesses, creative industries and manufacturing start-ups.

Loans for businesses and creative professions now have a reduced, 5% deductible and the application deadline has been extended to 30 June 2022.

The BDB's Business:Creative:StartUP programme provides financing to some of the sectors most affected by the pandemic at preferential rates and lower than standard collateral and deductible requirements.

The amount of loans granted for creative businesses is up to BGN 500 thousand. Start-ups can benefit from funding of up to BGN 250k without having to pledge their assets, as the security will be the asset purchased. Small and medium-sized enterprises from all sectors that do not fall into the other two segments can also apply for a loan on better terms: from BGN 100 thousand to BGN 5 million, for a term of up to 10 years and a grace period of up to 18 months.

So far, the programme, in partnership with the Pan-European Guarantee Fund, has granted loans totalling almost BGN 3 million to companies mainly in manufacturing and trade, including one start-up. Those in need of financing can now submit applications online or on the spot, at the BDB office in Sofia at 1 Dyakon Ignatiy Street.

The funding provided is under the EGF Guarantee Facility, implemented by the European Investment Fund (EIF) with the financial support of the European Union Member States contributing to the Pan-European Guarantee Fund.