The business support measures include:
1. Grant measures:
- Support to small and micro-companies to overcome the economic consequences of the COVID-19 pandemic under the Operational Program "Innovation and Competitiveness" (OPIC) (measure "3-10") – for companies which have suffered a decline of at least 20% in its turnover for April 2020 compared to the arithmetic average monthly turnover in 2019, with a minimum turnover for 2019 - BGN 30,000 (app. EUR 15,000). They have the possibility to receive 100% grant support with a minimum aid amount of BGN 3,000 and a maximum of BGN 10,000. The total budget of the measure is app. 89 mil. euro.
- Support for medium-sized companies to overcome the economic consequences of the COVID-19 pandemic under OPIC (measure "30-100") - for companies which have suffered a decline of at least 20% in its turnover for one of the months in 2020 after February 2020 compared to the arithmetic average monthly turnover in 2019, with a minimum turnover for 2019 – 3 mln. bgn (app. 1,5 mln. euro). They have the possibility to receive 100% grant support with a minimum aid amount of BGN 30,000 and a maximum of BGN 100,000. The total budget of the measure is app. 80 mln. euro
- Measure 60/40 - A short-term tool for urgent business support to maintain employment and guarantee the income of employees. Provided resource for the measure - EUR 0.76 billion.
2. Measures for preferential lending:
- Provision of working capital loans up to BGN 300,000, based on portfolio guarantees from Bulgarian Development Bank to commercial banks in order to provide liquidity for SMEs to overcome the negative economic consequences of the spread of COVID-19. The implementation of the program is financially secured with BGN 500 million to guarantee up to BGN 2 billion in working capital loans.
- Guarantees securing loans for SMEs provided by partner banks to the Fund of Funds, amounting to BGN 3 million. The total amount of guarantees - BGN 170 million for securing new loans in the amount of up to BGN 850 million.
- Micro-credits up to BGN 50,000, with a term of up to 10 years, for investment and working capital financing. The terms of the loans include interest rates significantly below the market, with the possibility of a grace period of up to 24 months. The total budget - BGN 24 million.
- Financing with a maximum amount of up to EUR 800 thousand in the form of the unit and quasi-unit investments provided by four existing venture capital funds. Total budget - BGN 150 million.
- Interest-free loans up to BGN 4,500 for self-employed persons, without fees, commissions and penalties on loans. Total budget - BGN 200 million.
Prepared by Mariya Zlateva (RAPIV)
