Current News

Current News

New opportunities for small-size and middle-size enterprises in the Plovdiv region

New opportunities for small-size and middle-size enterprises in the Plovdiv region

2/23/2006 10:13:00 AM

Municipal Guarantee Fund is going to support the crediting of businesses of small-size and middle-size enterprises in the Plovdiv region – that is provided in the Fund’s Regulations, proposed by the Plovdiv Municipal Councilor, representative of the BSP, Krassimir Davchev. The regulation will be thoroughly discussed today, at the session of the Municipal Council.

The Fund was created 4 years ago, with 10% of the municipal property privatization income going into the Fund. The Fund has gathered 710,000 BGN so far but is expected to reach 1 million BGN until the end of 2006. By means of financing by the Fund, the municipality can guarantee as collateral 50% of the loans applied for, which will enable the banks to more easily allow company loans.

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