EBRD Mulls 10 Mln Euro Loan for Bulgaria's EuroLease Auto To Back SMEs

The facility is provided as part of the Bank’s support of leasing sectors/SMEs affected by the liquidity crisis in southeast Europe, the EBRD said in a statement posted on its website.

The EBRD finance will be in conjunction with a senior loan to EuroLease Auto from a Bulgarian commercial bank(s), the statement said.

The proposed loan is due for a board review on November 25.

"This investment will increase the provision of long-term funding available in the leasing sector to be channelled to SMEs and, therefore, allow an increasing number of private entrepreneurs to access lease financing for trade and services," the statement said.

EuroLease Auto Bulgaria (www.euroleaseauto.bg) is specialised in the leasing of brand new passenger and commercial vehicles, predominantly to SMEs. It is one of the largest and fastest growing non-bank affiliated leasing company in Bulgaria.

Founded in 2004, EuroLease Auto is part of EuroHold Bulgaria, a publicly listed holding with diversified operations in insurance, leasing, financial services, car brokerage, and manufacturing.

($=0.6672 euro)