- public resources in the amount of BGN 5 million;
- expected volume of loans to final recipients of BGN 25 million.
Goals of the instrument
- improve access to financing for seeding and development of start-ups and social enterprises with a high-risk profile;
- support social entrepreneurship;
- promote entrepreneurship among vulnerable groups.
- companies and self-employed persons registered not more than 5 years ago, including enterprises whose owners are from vulnerable groups such as unemployed for more than 6 months, young people aged 29 or less, people with disabilities;
- social enterprises.
Type of financing
- investment loans or working capital loans in an amount of up to EUR 50 000 or BGN 97 791;
- relaxed loan terms such as a lower interest rate, lower collateral requirements, option for a grace period;
- a repayment term of up to 10 years;
- for the purpose of acquisition of tangible and non-tangible assets for business development or expansion of activities of the enterprise or the self-employed person; or to cover other costs linked to the core business operations.
- guarantees from the Fund of Funds in an amount of up to 80% per individual loan made capped at 25% of losses on the guaranteed portfolio.
Source of the public resources
Operational Programme Human Resources Development 2014 — 2020 co-financed from the European Social Fund
Current stage of the instrument: active on the market.