08.05.2013Municipal Bank Funds SMEs of Fisheries Sector

Municipal Bank signed a guarantee agreement with the National Guarantee Fund, a subsidiary of the Bulgarian Development Bank, to fund small and medium businesses of the Fisheries Sector.

Municipal Bank will provide loans and guarantees for the implementation of projects of small and medium enterprises in the Fisheries Sector which have been approved under Operational Program Fisheries Sector Development 2007 - 2013.

Both existing companies and start-ups will be supported under the scheme agreed. The limit per SME borrower is up to BGN 3,000,000. The maximum term of the guarantees by NGF to loans by Municipal Bank may be up to 10 years, and up to 3 years for the counter-guarantees issued by NGF to LGs provided by Municipal Bank.