Who meets the application requirements?
Companies registered in the country which meet the criteria for small and medium-sized enterprises (pursuant to the Act on SME’s). The loan applicant will be required to have at least two years of experience in the area of high technologies.
What investments meet the requirements for financing?
Every economically sound and environmental investment in the area of high technologies.
The following are allowable as subjects of the investment:
Purchase and construction of production, auxiliary and office buildings;
Purchase of specialized machines, technological and office equipment;
Acquisition of non-tangible assets, i.e. licenses, patents, etc.;
Supplementing the working capital as part of the investment project.
What amount can be provided under each project?
The total value of the project applying for financing may not be smaller than EUR 30 000.
The amount of borrower’s participation should be minimum 25% of the value of the financed project exclusive of VAT.
The minimum amount of each loan is EUR 25 000 and the maximum is EUR 1 000 000 or their equivalent in BGN.
Loan conditions
Term - from 3 to 10 years.
Grace period - depending on the term for launching of the project, but not more than 2 years.
Interest rate – according to the risks of the project and the term of repayment of the investment.
The interest on the loan is due monthly.
Repayment of the principal begins after the grace period and is negotiated individually with each borrower.
Collateral
The collateral is in accordance with the banking legislation.
Under certain conditions the bank extends loans under relieved requirements for collateral (up to 85% of the amount of the loan) owing to a guarantee issued by the European Investment Fund under the multi-year programme for small and medium-sized enterprises of the European Community.
The subject of the investment project is also acceptable as collateral of the loan.
