May 31 (SeeNews) - Bulgaria's National Guarantee Fund (NGF) and the Bulgarian-American Credit Bank (BACB) [BUL:5BN] signed a guarantee agreement for credits to small and medium-sized enterprises (SMEs), the fund said on Wednesday.
NGF will guarantee up to 50% of each loan, which should be up to 3 million levs ($1.71 million/1.53 million euro), the fund said in a statement.
The funding is provided under the EU's COSME programme in support of SMEs in all phases of their lifecycle – creation, expansion, or business transfer.