Often our clients ask as what means are available to finance a Bulgarian company, what procedures and requirements to acquire financing and which funds, grants and subsidies are available?
There is no simple answer to this question, because most depends on the exact activities of your company, your investment, amount of employees and in which region your company is located.
Of course there are also traditional credits and means of finance through the Bulgarian banks, but most foreign entrepreneurs will use grants, subsidies and alternative financing methods to finance their project in Bulgaria. Both Bulgaria and the European Union have made funds, grants and subsidies available for businesses in Bulgaria.
Available means of financing in Bulgaria
- European fund for regional development
- European social fund
- European fund for agricultural guarantees
- European fund for regional development
- European fund for fishery
Grants and subsidies
- Regional development programme
- Programme for development of the competitiveness of the Bulgarian economy
- Environmental programme
- Programme for transport
- Human resource development
- Programme for the administrative capacity
- Programme for technical assistance
Other financing methods
Organisations like the European Investment Bank also provide several means of financing projects in Bulgaria against very competitive interest reates. Large projects, with a financing need of at least 25 million euro, can get financing directly through the EIB. For smaller projects and businesses the application will go through the Bulgarian main street banks which have been appointed by the European Investment Bank.
An example of a financing programme for smaller companies is Jeremie. This is a financing method of the European Investment Bank, meant for companies which need a micro credit (up to € 25.000,-). De loan can be acquired against favourable conditions and a low interest.
Consulting services on financing of a Bulgarian company
Using the financing possibilities offered by funds, like grants and subsidies is complex. The average entrepreneur won’t have sufficient knowledge to do this himself. Therefore it’s good to know that CompanyFormationsBulgaria.com has already assisted many company in using their financing opportunities and applying for grants and subsidies.
Tailor made analysis of financing opportunities
One of the convenient services of BulgariaCompanyFormations.com is writing a tailor made analysis of a business’ financing opportunities. In such an analysis we’ll check which means of financing are available to your company or project and the conditions that apply to these financing methods. Based on the analysis you can decide whether or not you wish to continue to apply.
Consulting and assistance with applying for and using of available funds
Using and applying for the financing opportunities offered by available funds isn’t easy. It’s often a long, thorough and complex process which require proper preparation and specialist knowledge.
BulgariaCompanyFormations is able to provide you with the necessary advice and assistance or can even take the whole process out of your hands.
Using grants and subsidies means to comply with certain obligations set by the issuer of the grant or subsidy. Usually these obligations consist at least of reporting obligation and strict follow-ups of the described time frame of the project. Our specialists can take care of these obligations by assisting you or taking the complete after care process out of your hands.
Management of subsidised projects
Larger and more complex projects, which are financed with public money require intensive management. People managing such a project need to have proper knowledge of the local situation and the obligations to follow. BulgariaCompanyFormations.com has certified project managers. These specialists know their way in Bulgaria and know exactly how to run projects financed by grants and subsidies. We’re not talking here about technical or operational management of the project, we are talking about a designated manager whom will perform like a bridge between the client and the issuer of the grant or subsidy.
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