Bulgarian-American Credit Bank and the National Guarantee Fund signed a loan agreement for crediting small and medium enterprises for the amount of 26 000 000 leva. The Vice-Chairman of NGF’s Board of Directors Angel Djalazov and BACB’s chief executive officer Ilian Georgiev and executive director Loreta Grigorova signed the joint partnership pact. This is the first signed agreement under the guarantee fund’s 2019 support program for SME’s.

The new scheme provides businesses with reduced requirements for transactions, lower interest rates on loans and a free guarantee that covers up to 50% of them. In the new program micro, small and medium enterprises, which are defined as such in the corresponding law, can apply for a credit for a maximum of 120 months. The loan can be granted in leva or euro and can be used to finance investment projects such as purchasing fixed assets, payment of operational costs as well as bank guarantee limits. More than 120 companies are expected to receive support from the program.