First Loss Portfolio Guarantees COVID-19

Financial resources

  • public resources* in the amount of BGN 157.9 million;

*The resources have been reallocated from the terminated financial instrument for Small Business Financing and the re-designed financial instrument for First Loss Portfolio Guarantees for Energy Efficiency and Innovation.

Goal of the instrument

The goal of the Programme is to facilitate access of businesses to loans in order to resume activities after the gradual termination of measures introduced in response to COVID-19 pandemic. Businesses thus gain access to financial resources predominantly to meet current liquidity needs, and also to fund new investments, transformation and growth.

Final recipients

Bulgarian small and medium-sized enterprises

Type of financing

·         Wide access to credit resource without requiring material collateral; practically unsecured loan, except for personal guarantees provided by the company owners;
·         Short period for obtaining approval and use of funds;
·         Option to agree upon an up to 12-month grace period;
·         Deferred payment of up to 84 months;
·         Ensured maximum possible clarity and minimized administrative burden for the client;
·         Option to receive financing up to BGN 3 million.

Source of the public resources

Operational Programme Innovation and Competitiveness 2014-2020, co-financed from the European Regional Development Fund

Current stage of the instrument active on the market

Financial intermediaries

Tokuda Bank

First Investment Bank

Raiffeisenbank Bulgaria



DSK Bank

UniCredit Bulbank

Detailed information is available in the Buyer Profile section.