New loans of over BGN 12 million have been granted by UBB under the JEREMIE initiative

Over the last month, UBB AD carried out the largest in scale advertising campaign in Bulgaria under the EU JEREMIE initiative, which brought about the tremendous interest on the part of the business in this type of financing and the granting of more than 60 loans, exceeding BGN 12 million in total. The loans under the initiative are guaranteed without additional expenses for the companies and have lower coverage, interest and fees. The largest demand of financing is by companies in the trade, production and tourism industries, Ms. Marinela Koeva, Business Development Manager at UBB AD, said.
"In a period of hardship for the business over the recent years, the loans under the JEREMIE initiative stand an excellent opportunity for entrepreneurs and that at extremely beneficial parameters. We, at UBB AD, observe enhancement in the interest towards these products both on the part of micro and start-up companies, as well as on the part of companies with well-established business, since besides investment financing UBB JEREMIE loans also offer working capital financing", Ms. Koeva commented.
"The average amount of a loan under the JEREMIE initiative, granted by UBB AD so far, is BGN 200 000. The main reasons for entrepreneurs to borrow under the JEREMIE initiative are: implementation of new business projects, strengthening and expanding their current activity, diversification of production", Ms. Koeva also added. “We are happy that being the bank with obtained approval for the largest guaranteed portfolio under the JEREMIE initiative, we have the chance of rendering decisive support for the development of the Bulgarian business”, she stated. 
The loans under the EU JEREMIE initiative (Joint European Resources for Micro to Medium Enterprises - are designed for micro, small and medium enterprises, registered and operating in Bulgaria. This category includes companies with annual income from sales up to BGN 97.5 million and staff up to 250 employees. The only restriction is that the companies should not perform main activity in industries such as primary processing of agricultural products, fishing, mining, real estate business, gambling etc.
This type of funding provides the opportunity for investment in new products and services, investments in green energy, commercial network development, purchase of machines and equipment, repair works and equipment of offices and commercial sites, construction of industrial buildings, construction and furnishing of health care centers, and many others. The maximum loan amount is EUR 1 875 million (for companies in the road transport industry – half of that amount).
Ms. Marinela Koeva reminded that those willing to apply can take advantage of the opportunities on UBB’s dedicated site for loans under the JEREMIE initiative - offering attractive, fast and easy access to the application requirements for UBB JEREMIE loans, an eligibility check, as well as sending a direct inquiry. At the end of June this year the site won the first prize in the Finance and Insurance category of the Bulgarian Web Awards 2012.