Postbank received a €7.25 million credit line from the Bulgarian Development Bank (BDB) for on-lending to small and medium-sized enterprises (SMEs). The funding comes under the credit line BDB contracted with KfW for direct lending to SMEs and for provision of credit lines to commercial banks business financing.
The funds will be extended for financing of long-term projects of companies. The maximum loan amount for one enterprise is €3 million under a term up to 9 years. The loan will cover 100% of the investment costs, as well as the required working capital up to 30% of the investment.
"Postbank is very pleased to be part of this transaction that aims to support SMEs in Bulgaria," said Anthony Hassiotis, CEO and Chairman of the Management Board of Postbank. "Small business is of key importance for the continued recovery of Bulgaria's economy. We will continue to support local SMEs by offering them the best financial instruments to enhance their future growth."