UBB AD stands by Bulgarian businesses through a new guarantee program of the National Guarantee Fund
28 March 2014
United Bulgarian Bank AD is among the financial institutions that will grant business loans, guaranteed by the National Guarantee Fund (NGF). This is the framework of the agreement, signed between UBB AD and the NGF, based on which the fund will guarantee the granting of loans by commercial banks in amount exceeding BGN 360 million.
This agreement creates yet another opportunity for financing Bulgarian businesses upon more favorable conditions. The guarantee by the NGF will be issued free of charge for companies, planning to invest, seeking working capital or intending to work under EU operational programs.
This will reduce the need of pledging movable and immovable long-term tangible assets by loan-seeking companies as collateral in the bank’s favour. This in itself is expected to entail improvement of the terms and conditions on loans and at the same time give fresh impetus for development of the business lending and stir up the relations between banks and their clients.
„Our aim at UBB AD, being a responsible financial institution, is to not only finance projects of Bulgarian companies, but to also become their unwavering partner throughout their entire progress, including during their involvement in various national and European programs”, Mrs. Radka Toncheva, UBB AD Executive Director and Board of Directors’ Member, commented upon the agreement’s signing.