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Bulgaria's BDB Leasing to back local MSMEs with up to 1.1 mln euro

Bulgaria's BDB Leasing to back local MSMEs with up to 1.1 mln euro Photo: Bulgarian Development Bank / All rights reserved.

SOFIA (Bulgaria), October 11 (SeeNews) - State-owned Bulgarian Development Bank (BDB) said that its unit BDB Leasing is launching a new programme to support micro, small and medium enterprises (MSMEs) with leasing financing of up to 2.2 million levs ($1.3 million/1.1 million euro).

The new programme, backed by the Pan-European Guarantee Fund (EGF), is focused on overcoming the negative effects of the Covid-19 pandemic and will allow companies to benefit from easier financing conditions, longer payback periods, and reduced deductible requirements, the BDB said in a statement on Friday.

The leasing financing is intended for the purchase of new and used machines, equipment and motor vehicles. The requirements for deductible are 0% for leasing vehicles and 5% for other types of assets.

"The repayment terms are also preferential - depending on the type of asset purchased, they vary between one and eight years. Companies can apply for funding until the end of 2021," the bank said.

The EGF was established by the EIB Group last year 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