Raiffeisenbank (Bulgaria) EAD offers loans to small and medium-sized enterprises (SMEs) at new, more favorable terms and largely eased requirements within its additional agreement under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative. The maximum period for paying off the investment loans extended by the bank as part of the initiative is now 10 years, and the working capital loans have a maximum repayment period of 5 years. Under the new eased terms, the companies can take advantage of overdraft loans and revolving working capital loans with a repayment period of up to 3 years, giving the companies flexibility in operating with their finances.

The SME loan under JEREMIE can amount to up to EUR 1,875 million, or the BGN equivalence of the sum. The maximum financing for companies in the “Land Transport” sector stands at EUR 937,000.

The new options under the JEREMIE program of the European Investment Fund (EIF) include a wider range of loan products at preferential terms on interest rates and eased requirements on secured loans for the Bulgarian entrepreneurs. The main purpose of the program is to facilitate the access of the SMEs to financing for investment projects and working capital, and to increase their competitiveness. Since signing the Guarantee Agreement for participating in the JEREMIE initiative last year, Raiffeisenbank (Bulgaria) has financed projects of micro, small and medium sized enterprises in the sectors of production, trade and health services.

The JEREMIE initiative is carried out within the framework of the Operational Program „Development of the Competitiveness of the Bulgarian Economy 2007-2013”, financed by the European Regional Development Fund and by the State Budget. The Guarantee Agreement for participation in the initiative, signed by Raiffeisenbank (Bulgaria) and the European Investment Fund in the middle of 2011, will give local SMEs the opportunity to take advantage of 65 million euro in finance.

This publication has been produced with the assistance of the Operational Program „Development of the Competitiveness of the Bulgarian Economy 2007-2013”, which is financed by the European Regional Development Fund and co-financed by the State Budget. The contents of this publication are the sole responsibility of Raiffeisenbank (Bulgaria) EAD and can in no way be taken to reflect the views of the European Union.