Bulgarian Development Bank has launched a new on-lending program, through which it aims to ease the lease terms related to purchasing of machinery and equipment for micro, small and medium enterprises. Under the program for indirect financing „Leasing line“, non-banking financial institutions will be able to apply. In turn, they will provide the resources to Bulgarian companies from the sector of micro, small and medium business, which want to purchase movable property.
The initial financial resources that BDB will allocate among the leasing companies on the market is in the amount of EUR 25 million. In case of higher interest from the non-banking financial institutions, BDB can double the funds. The maximum amount of the credits for leasing of machinery and equipment for a company is EUR 500 000 or the equivalent in BGN. The interest rate for the final beneficiaries – lessees, along with the management fees and for assessment of requests for funding, may not exceed 6.5%.
Under the program “Leasing line“, the purchase of vehicles for industrial purposes, production equipment, technology and other types of use that are directly related to the business of micro, small and medium companies, will be financed.
The deadline for submitting applications to BDB by the non-banking financial institutions, providing leasing to SMEs, is March 14th this year.