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UBB supports small, medium and small midcap companies under the Recovery Programme of the Bulgarian Development Bank with loans for BGN 75 mln.
10 Decempber 2021
United Bulgarian Bank (UBB) and the Bulgarian Development Bank (BDB) continue their cooperation by signing an annex to the Portfolio Guarantee Programme, supporting the liquidity of small, medium and large scale enterprises, adversely affected by the extraordinary situation and COVID-19 pandemics, amending the framework of the Recovery Programme upon new and enhanced parameters.
This enables UBB to form a portfolio of BGN 75 mln. under new preferential terms for SMEs (small and medium-sized enterprises), as well as small midcaps (with staff up to 499 employees) for the purpose of overcoming the consequence from COVID-19.
Admissible under the programme are companies from all sectors of activity. Borrowers can receive investment or working capital funding (incl. for payment of rentals, salaries and overhead costs) without a requirement for tangible collateral. The maximum amount is up to BGN 3 mln. at borrower and related parties’ level, as the coverage under each loan is 80%.
The BDB’s Recovery Programme is part of the anti-crisis measures of the Bulgarian government for handling the serious difficulties of companies in the pandemic environment. BDB’s guarantee is a state aid, which granting should also comply with the terms and conditions, stated in the Temporary Framework of the European Commission.
