Business Loans Under The InnovFin Programme

Advantages

Fast approval procedure
Preferential interest rates
Alleviated collateral requirements
Larger opportunities for financing

Parameters

Amount	Minimum EUR 25 000, maximum EUR 7 500 000 (or their equivalence in Bulgarian leva)
Currency	BGN / EUR
Guarantee coverage	50% of the loan amount
Guarantee fee	No fee
Aim	For companies, developing innovative products and services and/or carrying out scientific research activities. - Working capital loans – overdrafts or revolving credit lines - Investment loans
Inadmissible loans	Refinancing of present loans Financing of European projects
Repayment period	For investment loans: minimum 12 months, maximum - 120 months For working capital loans: minimum 12 months, maximum 36 months
Collateral-related requirements	All collateral that is acceptable to the Bank

The loans under the programme are being provided with the support of the InnovFin Guarantee Instrument for Small and Medium-sized Enterprises with the financial support of the European Union, based on Financial Intruments under Horizon 2020 and the European fund for Strategic Investments (EFSI), established by virtue of the Investment Plan for Europe.

Required Documents

Decision of the company’s competent body for obtaining a loan and providing collateral for it
Balance Sheet, Income Statement and a Tax Return for the last year
Collateral ownership documents - copies of the ID cards of the company’s representatives - borrower/co-debtor/pledgors/mortgagors;
Certificate for availability /lack of arrears, issued by the revenue authority as per Art 87, Para6 of the Tax Insurance Procedure Code;
Declaration of relatedness with other entities as per sample format