LOAN FOR BUSINESS IN BULGARIA

Financial support programs for business in Bulgaria

There is not always enough money to open a business in Bulgaria. In Bulgaria, small and medium-sized enterprises are quite developed, the state provides loans for their activities, thereby strengthening its financial system.

Many banks provide favorable conditions for lending, and the procedure for obtaining a loan is not complicated. Therefore, obtaining a business loan in Bulgaria is a good option for your business if you are currently unable to secure it in full and need additional financing.

In what cases can you get a business loan in Bulgaria?

• To create a new business
• Obtaining a loan for a business for furnishing
• Investment loan

There are quite a few banks in Bulgaria, about 30, and many of them offer business lending services

• Vivus
• Easycredit
• Profi credit
• SOScredit
• Credit trust

What documents are required to obtain a business loan in Bulgaria?

The documents may differ according to the bank that provides such a loan, but in general it is the following list of documents:

• The identity document, the passport must be translated and legalized by a Bulgarian notary, or if the person does not leave Bulgaria, then such documents are certified in the Bulgarian embassy of the country of your residence
• Application for opening an account
• Documents on the applicant’s income and credit history, legalized in accordance with the bank’s requirements

If a person already has a business and wants to get a bank loan for further activities, the following documents are provided:

• Documents confirming the availability of bank accounts
• Documents from the bank – extract (in which information about income for the last 6 months is indicated)
• Documents on the income of the entrepreneur for the last two tax periods (the tax period in Bulgaria is 1 year, i.e. information for two years)

What loans can be granted?

A mortgage business loan of up to 2,000,000 BGN, this loan can be granted to people who have the desire to start a new business or if they already have their own business, as well as anyone who needs financing without specifying the source of their income. But with this loan, there must be real estate that will be the object of the pledge.

Business financing up to 7,000 leva – provided for business expansion and improvement, optimization of production costs, stocking of goods, replenishment of the assortment on the site, repair and updating of the site, purchase and replacement of inventory

Current funds for an online store up to BGN 15,000 – repayment period 7 days, contract period 12 weeks, 0% annual interest for the entire contract period, an application fee of 10% of the amount approved for payment, simple application procedure.

Investment loan – if you have a business and want to expand your business by purchasing new equipment or investing in the production of new equipment, your choice will be an investment loan

Often, when preparing documents and when submitting them to the bank, certain difficulties may arise, and therefore it is necessary to contact a professional who will help prepare all documents, prepare applications, choose possible grants for receiving money and help solve other issues that may arise during obtaining a loan.