- The bank extends and improves the conditions under the Bulgarian Development Bank guarantee program for overcoming the economic consequences of the spread of COVID-19
- The guarantee instrument is suitable for micro, small, medium and large companies from different sectors of the economy.
UniCredit Bulbank announced an agreement signing to extend the program with the Bulgarian Development Bank (BDB) for portfolio guarantees in support of the liquidity of micro, small, medium and large enterprises affected by the COVID-19 pandemic.
The bank will provide loans of up to BGN 1 mln. for micro, small and medium enterprises (employees up to 249, assets up to BGN 85 mln., annual turnover up to BGN 97,5 mln.) and up to BGN 2 mln. for large enterprises (commercial companies within the meaning of the Commercial Act). Clients can apply for new and existing working capital financing and/or investment financing under the program. The loans have an extended period – up to 6 years, but not later than June 30, 2027. The credits are granted with reduced collateral requirements – coverage of no more than 50% of the amount of the requested funding. Grace periods are allowed for both interest and principal.
The applicants must meet at least one of the following requirements: decrease in turnover due to the COVID-19 pandemic; presence of uncollected receivables from customers or unpaid accounts payable to suppliers; have canceled export contracts or terminated import deliveries; have closed their production facilities and offices or reduced the number of their employee.
The instrument is applicable to companies from different sectors of the economy, as BDB data shows that the most affected sectors by the pandemic are: transport, tourism, hotels and restaurants, wholesale.
The program aims companies that have experienced difficulties in 2020 as a direct negative effect of the COVID-19 pandemic, and which regularly serve their loans without falling overdue for more than 90 days in 2019.
Additional media information:
Victoria Blajeva, tel +359 (0) 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch
Beatris Nikolova, tel +359 (0) 2 9232 528, cfbusjt/ojlpmpwbAvojdsfejuhspvq/ch
Ekaterina Ancheva, tel +359 (0) 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch