BSTDB Increases Financing to Bulgarian SMEs

News | 09-Oct-2009

BSTDB provided an SME loan facility to Bulgarian Development Bank AD (BDB) for the amount of EUR 8 million.

The loan facility will be made available by Bulgarian Development Bank to Bulgarian SMEs for the purpose of financing of projects with maturity up to 5 years with a grace period of up to 18 months for the creation, modernization, expansion and diversification of business facilities, as well as working capital financing for production or service related facilities and medium term incremental or start-up working capital requirements; and, export and pre-export financing of industrial or agricultural enterprises.

“We are confident that in this highly constrained credit environment, where alternative options for SMEs are limited, our loan will bring economic benefits for the Bulgarian economy, like new employment opportunities and increase in export capacity and competitiveness”, said Hayrettin Kaplan, BSTDB President signing the loan agreement.