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Loans under Operation Programme “SME Initiative”

Piraeus Bank Bulgaria signed a guarantee agreement with the European Investment Fund (EIF) to share the credit risk in financing micro, small and medium businesses under the Operational Programme " SME Initiative"."SME Initiative" in Bulgaria is a joint instrument of the European Commission and the European Investment Bank (EIB and EIF) established to support lending to the real economy  achieving  sustainable growth and greater competitiveness. The agreement is for  EUR 50 million  and part of it will be addressed to companies with innovative approaches and models in business.

Loan under OP “SME Initiative”

Loan type

- Investment loan with fixed repayment schedule

- Credit  line for working capital

- Overdraft

Purpose of financing

All eligible for the product, with the exception of:

- refinancing;

- financing of projects subsidized by EU funds;

Loan Amount

Мax. EUR 4 000 000  (or the equivalent in BGN)

Term of the  loan

For Credit line for working capital, including overdraft:

- min. 2 years

- max. 4 years 

For investment loan:

- min. 2 years

- max. 12 years

Interest Rate

The interest rate is preferential and is calculated on the basis of SOFIBOR or EURIBOR, plus a margin in accordance with the risk assessment.

Collateral

Any type acceptable  by the  law

Fees

According  the Bank Tariff

 

 “Horizon 2020” Loan for Innovative methods and models in business

Loan type

- Investment loan with fixed repayment schedule;

- Credit  line for working capital- revolving credit line or with fixed repayment schedule;

- Overdraft;

Purpose of financing

All eligible for the product, with the exception of:

- refinancing;

- financing of projects subsidized by EU funds;

Loan Amount

Мin. EUR 25 000 (or the equivalent in BGN);

Мax.EUR  7 500 000 (or the equivalent in BGN);

Term of the  loan

For Credit line for working capital, including overdraft:

- min.  2 years

- max. 3 years

For investment loan:

- min. 2 years

- max. 10 years

Interest Rate

The interest rate is preferential and is calculated on the basis of SOFIBOR or EURIBOR, plus a margin in accordance with the risk assessment.

Collateral

Any type acceptable by the law

Fees   

According  the Bank Tariff

Common criteria to companies that can benefit from the guarantee under OP " SME Initiative”:

1. Borrowers- micro, small and medium sized enterprises, registered and operating in the Republic of Bulgaria, and those enterprises having  annual turnover less than  BGN 97,5 million and  number of employees  less than 250 .

2. SME restricted sectors:

  • Primary processing of agricultural products;
  • Fisheries and Aquacultures;
  • Pure Real Estate Development Activity;
  • Hazard;
  • Manufacture  and Trade in Weapons and Ammunition;
  • Production of and trade in tobacco and distilled alcoholic beverages and related products;
  • Nuclear Energy;
  • Other Illegal Economic Activities;