site.btaFund Manager Begins Market Consultations for Loans Targeted at SMEs
NW 18:31:31 22-11-2019
MY1829NW.107
107 ECONOMY-FUND-COMPANIES-LOANS
Fund Manager Begins
Market Consultations
for Loans Targeted at SMEs
Sofia, November 22 (BTA) - The Fund Manager of Financial Instruments in Bulgaria (Fund of Funds) said on Friday that it has begun preparations for the launch of a new product for funding of small businesses.
The first stage involves market consultations which aim to streamline the structure of the product. Based on the opportunities for provision of tools for risk sharing and defining the parameters of the instrument, the Fund will identify the current needs of the market and the potential financial intermediaries.
The money has been allocated under the OP for Innovation and Competitiveness 2014-2020 co-funded with money from the EU structural and investment funds. The procedure will conform to the goals of the operational programme and the characteristics of the target group. The instrument will make available 29 million leva and will support a new loan portfolio worth 41 million leva where up to 70 per cent of each loan will be financed by the Fund. The money will go towards the purchase of machinery, equipment, cars, as well as leasing and working capital.
The consultations began on Thursday and will continue by December 12. The results will be published in a report which will be uploaded on the Fund's webpage. RY/PP/МЙ/
MY1829NW.107
107 ECONOMY-FUND-COMPANIES-LOANS
Fund Manager Begins
Market Consultations
for Loans Targeted at SMEs
Sofia, November 22 (BTA) - The Fund Manager of Financial Instruments in Bulgaria (Fund of Funds) said on Friday that it has begun preparations for the launch of a new product for funding of small businesses.
The first stage involves market consultations which aim to streamline the structure of the product. Based on the opportunities for provision of tools for risk sharing and defining the parameters of the instrument, the Fund will identify the current needs of the market and the potential financial intermediaries.
The money has been allocated under the OP for Innovation and Competitiveness 2014-2020 co-funded with money from the EU structural and investment funds. The procedure will conform to the goals of the operational programme and the characteristics of the target group. The instrument will make available 29 million leva and will support a new loan portfolio worth 41 million leva where up to 70 per cent of each loan will be financed by the Fund. The money will go towards the purchase of machinery, equipment, cars, as well as leasing and working capital.
The consultations began on Thursday and will continue by December 12. The results will be published in a report which will be uploaded on the Fund's webpage. RY/PP/МЙ/
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