Postbank provides an opportunity for facilitated financing to businesses under the European Guarantee Fund programme

Postbank provides an opportunity for facilitated financing to businesses under the European Guarantee Fund programme

By participating, the bank will support the liquidity needs and projects

of small, medium and intermediate enterprises

 22 December 2021

Postbank has signed two new guarantee agreements with the European Investment Fund (EIF) under the European Guarantee Fund programme in order to create a portfolio of up to EUR 650 million loans. The programme will allow the bank to provide easier access to financing on preferential terms, supporting the liquidity needs and projects of small, medium and intermediate enterprises in the current challenging economic environment.

 

The programme is open to enterprises from all sectors. Eligible companies are small and medium enterprises with up to 250 employees and an annual turnover of up to BGN 97.5 million, and intermediate companies, the so-called small mid-caps, with a staff of up to 500 people. The program covers financing for investment projects and working capital needs, as well as refinancing of existing debts. It is open for applications until the end of 2022.

 

"By expanding our partnership with the European Investment Fund, we will offer even more efficient and tailored financial solutions in support of the businesses in our country. This is another initiative that we undertake demonstrating that we continue to stand close to our customers and meet their needs, supporting them in the challenging economic environment created by the Covid-19 pandemic" Postbank said.

 

The European Guarantee Fund (EGF) was set up by the European Investment Bank (EIB) with contributions from Bulgaria and other EU member states to shield companies affected by the Covid-19 crisis. With nearly EUR 25 billion in guarantees raised, the EGF allows the EIB and the EIF to quickly provide loans, guarantees, asset-backed securities, equity and other financial instruments available mostly to small and medium-sized enterprises. The EGF is part of the European Union's recovery package, which aims to provide a total of EUR 540 billion to the most affected sectors of the EU economy.

 

More information about the business products offered by Postbank can be found at www.postbank.bg, in the specialized centers and offices of the bank, at a meeting with a mobile banking expert or by phone at the short number *7224.

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