Bulbank extended loans totalling over for above BGN 10m to small companies during the first month of the promotional programme at 9.22% annual interest, bank's representatives said. The funds were provided to strengthen companies' turnover capital.
Bulbank expects the total volume of these credits to reach BGN 20m by the end of 2004. The bank attracted 1,300 new clients and their number is forecast to reach 2,500 by end-2004.
Small loans are granted to companies with an annual turnover of up to BGN 1.0m. No business plan is required.
The maximum loan amount is BGN 150,000.
Source: Europe Intelligence Wire
