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Bulgaria's Postbank gets 7.25M euro loan from Bulgarian Development Bank

Author: Date: Tue, Oct 04 2011 1233 Views
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Bulgaria's Postbank, part of Greek Eurobank EFG Group, said on October 4 2011 that it had taken out a 7.25 million euro loan from Bulgarian Development Bank (BDB).

The funds will be on-lent to local small and medium-sized enterprises (SMEs).

The bank will extend loans for long-term projects with a maximum size of three million euro and a repayment period of nine years.

The loans will be sufficient to fully cover investment expenses, as well as the required working capital if it accounts for up to 30 per cent of the investment.

The loan is a drawn-out of a credit line provided to BDB from German state development bank Kreditanstalt fuer Wiederaufbau (KfW) for direct lending to SMEs and credit lines to commercial banks for targeted business financing, the statement said.

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