The total value of the repaid loans is over BGN 48 millions.
More than 10% of the loans granted to the banks, partners of the Bulgarian Development Bank (BDB) under the programs for investment and floating funding of small and medium enterprises are already repaid. By the end of February more than 270 loans for over BGN 48 millions have been repaid by the companies to the commercial banks. 250 of these credits are under the program for agricultural producers funding.
The financial resources have been given to the banks on a revolving principle. The partnering banks must contract with end credit users up to 95% from the credit line granted by BDB. This means that after the credit user returns the credit, the commercial bank must grant a new credit with the repaid resources.
The commercial banks use BDB credit lines with total value of BGN 455 millions for a period between 5 to 10 years depending of the type of funding. 1300 credits were granted with the funds for one year, opening more than 5900 jobs.
BGN 80 millions were granted for targeted funding of agricultural producers and the rest of the resources have been used for floating and investment credits for SME.
The maximum size of the investment and floating credits for SME is up to BNG 2 millions with fixed maximum interest rate of up to 8%. The farmers’ funding credit line largest loans are up to BGN 500,000 with fixed interest rate up to 7%.
