Allianz Bank Bulgaria and the European Investment Fund (EIF) have signed an guarantee agreement in support of Bulgarian companies, to guarantee a portfolio of SME loans and factoring transactions, affected by the pandemic of COVID-19. The guarantee covers portfolio of 23 million euro.
The transactions benefit from support by the European Guarantee fund (EGF), implemented by the European Investment Fund with the financial backing of the contributing EU Member States, as an anti-crisis EU rescue package to support faster recovery from the COVID-19 pandemic. The new instrument is implemented in accordance with the State aid rules.
Under the agreement, SME and Small Mid - Caps companies (up to 499 employees) will be able to access to loans for investment and working capital, incl. loan refinancing, factoring. Allianz Bank lending by reducing collateral requirements and the interest rates normally charged SME loans and factoring.
The EIF guarantee shall not exceed 70% of the amount of each loan/ factoring transaction.
The maximum amount of portfolio volume not exceed 2 570 000 euro or the equivalent in BGN.
Applications to this EIF instrument shall be submitted to Allianz Bank Bulgaria before the deadline 20.06.2022.
For more information see HERE .
