Allianz Bank Bulgaria signed an agreement with the Bulgarian Development Bank (BDB) for portfolio guarantees in support of the liquidity of micro, small and medium enterprises affected by the COVID-19 pandemic.
Under the agreement, business clients in the SME sector have the opportunity to apply and receive a loan of up to BGN 300,000, with the guarantee covering 80% of the liability.
Guaranteed portfolios can include both existing and new loans to finance liquid needs. The loans are granted with relaxed collateral requirements - up to 20% of the amount of the requested financing. The grace period for principal and interest payments is up to 36 months.
Applicants must meet at least one of the following requirements: have a drop in turnover due to the COVID-19 pandemic, have outstanding receivables from customers or unpaid amounts to suppliers, have canceled export contracts or discontinued import deliveries, have closed their production facilities and offices or have reduced the number of their employees.
The deadline for applying for a loan for the ,,Program for portfolio guarantees in support of the liquidity of micro, small and medium enterprises affected by the COVID-19 pandemic." is 23 December 2020.
For more information see here.