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21.05.2008Lending to SME Program Launched by Municipal Bank AD

The Lending to SME Program has been launched by Municipal Bank AD on 19.05.2008.
Recognising the increasing significance of small and medium enterprises for the development of the Bulgarian economy and being aware of the difficulties before their business Municipal Bank AD offers a unique package of products entirely in compliance with their specific needs.
The Lending to SME Program allows businesses from that segment to finance both their current activity and different investment projects at clear term and conditions and exact rules. Depending on the purpose, amount, and tenor of the loan, the financial status of the applicants and their collaterals, the Bank provides the following lending products at a laxed procedure:

  • Loans up to BGN 30 000 collateralised only by promissory note or promissory note and guarantorship;
  • Loans collateralised by mortgage on highly liquid real estates without a requirement for submitting cash flow forecasts; max. amount: up to BGN 250 000;
  • Loans collateralised cash funds, up to 95% of the collateral amount;
  • Loans collateralised by one or all statutory collaterals acceptable by the Bank, up to BGN 500 000.
    The maximum acceptable repayment terms for some of the lending products reach 36 months (for operating loans) and 120 months (for investment loans).
    For the small and medium business to get an excellent package, Municipal Bank AD also offers the following bonuses:
  • No requirement for submission of a Business Plan and Economic Rationale;
  • No requirement for a long business history;
  • Free preliminary enquiry with an answer by the Bank within 48 hours;
  • Free issuing of a business debit/credit card upon the customer’s request;
  • Additional credit opportunity (with lending products collateralised by assets) – business credit card overdraft, collateralised only by promissory note, up to 5% of the amount of the core lending product.
    Loans at higher amounts and different terms and conditions are offered by individual agreement.
    more
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