Application
The objectives of the Municipal Guarantee Fund for SMEs are to implement Sofia Municipality's policy of supporting small and medium-sized businesses in its area by guaranteeing part of the credit risk on loans provided for specific purposes by financial institutions to small and medium-sized enterprises registered or operating in Sofia Municipality.
The Municipal Guarantee Fund guarantees loans to companies registered or operating in Sofia Municipality. The Fund guarantees up to 50% of a small company's loan to the banks, but no more than EUR 50 000, regardless of the loan amount.
Purpose
D Commerce Bank and the Municipal Guarantee Fund for Small and Medium-sized Enterprises (SMEs) of Sofia Municipality signed a new agreement to finance small and medium-sized enterprises operating in Sofia Municipality. Under this agreement, the Municipal Guarantee Fund for SMEs, together with D Commerce Bank, offers a new opportunity to create a favourable environment for the development of small and medium-sized enterprises. The principal aim of the Municipal Guarantee Fund is to pursue policies that stimulate the SME sector and create the best conditions for its development.
