First Loss Portfolio Guarantees COVID-19
Stage of the instrument:
Operational programme "Innovations and Competitiveness"
View program-
First Loss Portfolio Guarantees COVID-19
- Market consultations
- Preparation of the documentation
- Application of financial intermediaries
- Review of offers and negotiations with candidates
- Selected financial intermediaries
- Funding of final recipients
€170,72M
Instrument description
Financial resources
EUR 114.03 million public resource (Recovery 1)
EUR 56.69 million additional public resource as a next phase for the implementation of the Recovery Programme (Recovery 2)
Total expected volume of loans to final recipients guaranteed under the Recovery Programme, exceeding BGN 700 million.
Goal of the Programme
The aim of the Programme is to facilitate the access of businesses to recovery loans for liquidity needs, new investments, transformation and growth in the aftermath of the COVID-19 pandemics.
Final recipients
Bulgarian Small and medium-sized enterprises
Type of financing
- Access to business loans to eligible Bulgarian SMEs with a history of at least 3 years;
- No requirement for tangible collateral; unsecured loans with the exception for personal guarantees provided by owners;
- Loan approval and disbursement within a short timeframe;
- Up to 12 months grace period for repayment of the principal;
- Access to long term financing with maximum maturity of up 84 months;
- Minimization of the administrative burden for the client;
- Financing of up to BGN 3 million, but not exceeding 70 % of the turnover for 2019 or 2020 (whichever is higher), in compliance with the provisions applicable for State Aid.
Source of the public resources
- Recovery 1: Operational Programme Innovation and Competitiveness 2014 — 2020, co-financed from the European Regional Development Fund
- Recovery 2: Operational Programme Innovation and Competitiveness 2014 — 2020, as part of the European Union's response to the COVID-19 pandemic under the REACT-EU
Current stage of the Programme: investment period completed on 31.12.2023
Partnering Banks:
Документи
First Loss Portfolio Guarantees COVID-19
Financial intermediaries
For more information regarding the process and steps for approval of financing, you can contact our financial intermediaries.
All financial intermediaries
Do you have questions regarding the implementation of the financial instrument?
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- Source of public resource
- Operational programme "Innovations and Competitiveness" ( 2014 - 2020 )
- Current stage of the instrument
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