Bulgarian Development Bank approves loans worth over Lv 268 Mln under two Government anti-crisis programmes

The Bulgarian Development Bank (BDB) has approved loans worth over 268 million leva under two government anti-crisis programmes that the BDB is managing, the bank said Tuesday. The resources have supported 26,221 natural persons and given a funding opportunity to over 1,200 companies.

The loans confirmed for SMEs are worth just over 158 million leva. The strongest interest is observed from the sectors trade and tourism, manufacturing and transport. Also supported are companies in construction, agriculture, services, and advertisement.

The BDB already guarantees the extension of loans of up to 1 million leva for SMEs and to 2 million leva for big companies affected by the COVID-19 pandemic. The loans are extended by nine banks under reduced requirements for security, a reduction in the interest percentage and an option for a grace period of up to three years. The applying companies should have experienced difficulties in 2020 and no delays of over 90 days in the last year.

Over 40,000 natural persons have applied for interest-free loans, according to data of commercial banks, and just over 1,240 are being reviewed at present. The approved loans total more than 110 million leva, and the average amount is 4,229 leva. Following changes in the programme for interest-free loans for natural persons, the BDB now guarantees loans of up to 6,900 leva instead of up to 4,500 leva.

The deadline for applications under both programmes has been extended to June 2021.