Fibank The bank will offer loans at twice lower interest rate
Today Fibank (First Investment Bank) signed an agreement with the European Investment Fund (EIF) for the implementation of new financial products "Risk Sharing Finance Facility" under JEREMIE initiative. Fibank was chosen as EIF partner following competitive selection among the 17 credit institutions.
This is an innovative product for the Bulgarian market and will allow Fibank to provide investment and working capital loans at the total amount of 70 million euro at interest rates reduced by at least 50%. Apart from the lower interest rates, Fibank customers will be able to benefit from the considerably lower service fees and reduced collateral terms. The product is designed for eligible companies under the initiative for micro to medium enterprises and the term of the loans will be up to 10 years.
The funding granted under the Joint European Resources for Micro to Medium Enterprises initiative (JEREMIE) is implemented through the Operational Programme "Development of the Competitiveness of the Bulgarian Economy 2007 to 2013", funded by the European Union through the European Regional Development Fund and the national budget. The new product is fully in favor of the micro to medium enterprises as it facilitates their access to financing through the Structural Funds and national resources.
"Lending of the small and medium businesses has always been our priority and the signing of the agreement with the EIF is another step in that direction", said Gergana Pramatarova, Director of "External Partners, EU Programs and Correspondent Relations" at Fibank.