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Bulgaria's BDB Leasing extends MSMEs support scheme until end-June

Bulgaria's BDB Leasing extends MSMEs support scheme until end-June Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SOFIA (Bulgaria), January 19 (SeeNews) - State-owned Bulgarian Development Bank (BDB) said on Wednesday that its subsidiary BDB Leasing is extending its programme for support of coronavirus-hit micro, small and medium enterprises (MSMEs) by six months until the end of June.

Leasing financing available under the programme has been increased to up to 5 million levs ($2.9 million/2.6 million euro), from up to 2.2 million levs, BDB said in a statement, adding that the conditions have been changed due to high demand.

The leasing financing programme, intended for the purchase of new and used machines, equipment and motor vehicles, aims to help firms by allowing them to benefit from easier financing conditions, longer payback periods, and reduced deductible requirements.

The requirements for deductible are 0% for leasing vehicles and 5% for other types of machines and equipment. The repayment terms are between one and eight years, depending on the type of asset purchased.

The programme is backed by the Pan-European Guarantee Fund (EGF). The EGF was established by the EIB Group in 2020 in order to support EU-based companies affected by the coronavirus crisis.

(1 euro = 1.95583 levs)

Bulgarian Development Bank AD is among the biggest banks in SEE, for more reference take a look at Top 100 banks
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