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Fibank signed a new agreement with the National Guarantee Fund

January 31, 2018

Fibank (First Investment Bank) and the National Guarantee Fund (NGF) signed an agreement for financing of enterprises under the COSME 2017 guarantee scheme.

In the headquarters building of Fibank at Bulgaria Boulevard, the agreement between the two institutions was signed on behalf of Fibank by Mr. Nedelcho Nedelchev, Chief Executive Officer, and Ms. Nadia Koshinska, Member of the Management Board, and on behalf of the National Guarantee Fund – by Mr. Samuil Shiderov, Executive Director, and Mr. Alexander Georgiev, Member of the Board of Directors.

The aim of the COSME 2017 guarantee scheme is to facilitate the access of small and medium enterprises (SMEs) to financing, and contribute to the implementation of productive investments within the European Union. Up to 50% of the financing is guaranteed by the NGF. The scheme will benefit 330 small and medium businesses. The guarantee facilitates collateral arrangements so that borrowers may receive the full amount of funding desired.

To apply for loans under the COSME 2017 scheme, companies need to be registered in Bulgaria. Investment and working capital loans can be applied for, with maximum amount up to € 1.5 million and term up to 10 years.

Fibank will provide tailored offers for NGF-guaranteed loans to companies eligible for financing under the COSME 2017 scheme.

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