Navigation path

Share on 
	Share on Facebook
  
	Tweet it
  
	Share on google+
  
	Share on linkedIn
  
    
      E-mail
Set page to normal font sizeIncrease font size by 200 percentBookmark this pageChoose high-contrast version

Bulgaria

Access to finance

Updated 12/2013

Access to EU finance

This site will help you to apply for finance supported by the European Union. To access EU finance, click on your country to locate banks or venture capital funds that provide finance supported by the EU:

Access to EU finance

National sources of finance

The simplest way to obtain finance in Bulgaria is to take out a loan. You can obtain finance regardless of the legal status of your enterprise, including if you are self-employed or a freelancer, as long as what you do fits in with the definition of a business under the Bulgarian Trade Act (TZ).

Credits are subject to certain rules set out in the law.

There are also rules on raising funds on the capital market.

Public finances

Indirect support

A credit line for energy efficiency and renewable energy sources has been set up for relevant projects. This programme gives credit lines to participating Bulgarian banks, which for their part provide loans to private companies for industrial energy efficiency and renewable energy-related projects.

Credit lines are also offered by the European Investment Bank (EIB) and by the Kozloduy International Decommissioning Support Fund (KIDSF). This credit line combines EIB loans with subsidies from the KIDSF.

Direct support

The Bulgarian government has developed a number of schemes and programmes to help fund businesses. One example is the Energy Efficiency Fund. This fund acts as a finance institution by granting and guaranteeing credit, while also being a consultation centre. The fund concentrates on energy-saving projects.

The Bulgarian government has also set up a National Innovation Fund. This fund finances scientific research projects up to BGN 500 000 AND technical feasibility projects up to BGN 50 000.

Access to EU funding

Local contacts work together to prepare applications for finance under the Intelligent Energy Europe programme. This includes consultations on technical and administrative matters concerning offers on putting forward projects, finding project partners and participating in tenders for national co-financing funds, where applicable.

Bulgaria provides national coordinators from the National Contact Network to administer the Seventh Framework Programme. These coordinators cover over 20 industrial sectors, depending on their specialist field. Financing programmes and the periods they cover are posted on the network's website, and focus on applied science.

The Operational Programme 'Development of the Competitiveness of the Bulgarian Economy 2007-2013' has been one of the programmes co-financed by the EU Structural Funds since Bulgaria's accession to the EU.

Private financing

Banks

The administrative procedures for applying for credit from commercial banks are determined by the banks themselves and are described in detail on their websites. The government imposes strict requirements on the banking system to ensure its stability.

In addition to traditional loans, many Bulgarian banks now provide funding to enterprises through 'factoring'. This financial service includes:

  • funding based on invoices issued by goods and service providers, i.e. on the payments due from clients to suppliers;
  • administrating the accounts on which payments are due to the supplier;
  • encouraging an increase in turnover between supplier and customer.

You can find a full list of banks licensed to operate in Bulgaria on the website of the Bulgarian National Bank.

Stock exchange

One of the most widespread ways of financing a company's business activities is by listing on the stock exchange. The securities market in Bulgaria has risen dramatically in the past few years, with large numbers of companies now trading on it.

There are a number of rules involved when a decision is made to raise finance by listing a company on the Bulgarian Stock Exchange (BSE). These rules have been set to protect the stability of the capital market. To register on the stock exchange, your company needs to be a public entity. You must prepare a public offering prospectus to be approved by the Financial Supervision Commission (FSC). Details of the steps to be followed can be found on the FSC's website.

Investment brokers

You can also seek finance from non-banking financial institutions. Some of these are licensed investment brokers, who offer the opportunity to invest the funds of individuals and legal entities on the capital market.

Another source of finance are bond loans, which have a set repayment period. You can get information about these loans from investment brokers.

In recent years, many individuals and companies have used finance brokers to obtain credit. Doing this simplifies procedures and saves time. Going by this way does not necessarily mean that the cost of the loan will increase. Many brokers offer free consultations.

In Bulgaria, various non-governmental funds are also available. They offer funding to businesses operating in various sectors in Bulgaria. SEAF is a global venture capital fund management company based in Washington D.C.

The Bulgarian American Enterprise Fund assists small and medium-sized companies and encourages joint enterprises between Bulgarian and western European companies. The Bulgarian-American Enterprise Fund (BAEF) is a private corporation incorporated in the USA

You can find information on support available to companies who would like to invest in Bulgaria on the website of the European Bank for Reconstruction and Development, which places particular focus on promoting foreign investment in the Bulgarian economy. The EBRD website gives detailed information about all related procedures and the types of finance available, some of which include supplementary financing with commercial banks.

Business support organisations can advise businesses on how to find financing.

Help & advice

Help & advice

E-mail a business organisation near you

The EU runs a network (Enterprise Europe Network) of local business organisations in most European countries that may be able to help you.

Choose your country and town and enter your enquiry below.

Country

Austria

Feldkirch

Graz

Innsbruck

Klagenfurt

Linz

Salzburg

Wien

Belgium

Antwerpen

Arlon

Brugge

Brussels

Charleroi

Gent

Hasselt

Leuven

Libramont

Liège

Mons

Namur

Nivelles

Bulgaria

Dobrich

Plovidiv

Ruse

Sandanski

Sofia

Sofia

Stara Zagora

Vratsa

Yambol

Croatia

Osijek

Rijeka

Split

Varazdin

Zagreb

Cyprus

Nicosia

Czech Republic

Brno

Liberec

Ostrava

Ostrava

Pardubice

Plzen

Praha

Usti nad Labem

Denmark

Aalborg

Copenhagen

Herning

Kolding

Viborg

Estonia

Tallinn

Finland

Helsinki

Oulu

Tampere

Turku

Vantaa

France

Amiens

Annecy

Aulnat

Besançon

Bordeaux

Bourg en Bresse

Caen

Cayenne

Chalons-en-Champagne

Chambéry

Dijon

Fort-de-France

Grenoble

Lille

Limoges

Lyon

Marseille

Marseille

Marseille

Montpellier

Montpellier

Nancy

Nantes

Orléans

Paris

Pointe-à-Pitre

Poitiers

Privas

Rennes

Rouen

Saint-Denis

Saint-Etienne

Strasbourg

Toulouse

Valence

Germany

Berlin

Bremen

Bremenhaven

Chemnitz

Dresden

Düsseldorf

Erfurt

Frankfurt/Oder

Freiburg

Hamburg

Hannover

Kaiserslautern

Kiel

Konstanz

Leipzig

Magdeburg

Mannheim

Mülheim an der Ruhr

München

Osnabrück

Potsdam

Reutlingen

Rostock

Saabrücken

Stuttgart

Trier

Ulm

Villingen-Schwenningen

Wiesbaden

Greece

Athens

Heraklion

Ioannina

Kavala

Kozani

Thessaloniki

Tripolis

Volos

Hungary

Budapest

Debrecen

Győr

Nyíregyháza

Pécs

Szeged

Székesfehérvár

Zalaegerszeg

Ireland

Dublin

Italy

Abruzzo

Aosta

Apulia

Apulia

Ascoli Piceno

Basilicata

Bologna

Bologna

Cagliari

Calabria

Calabria

Campania

Catania

Catania

Florence

Genova

Gorizia

Milano

Milano

Milano

Molise

Naples

Naples

Palermo

Palermo

Perugia

Pesaro

Pordenone

Ravenna

Rome

Rovereto

Sassari

Sicily

Terni

Torino

Torino

Torino

Trieste

Trieste

Udine

Venezia

Venezia

Venezia

Latvia

Riga

Lithuania

Kaunas

Klaipėda

Vilnius

Luxembourg

Luxembourg

Malta

Pieta`

Netherlands

Den Haag

Nieuwegein

Norway

Ås

Oslo

Stavanger

Tromsø

Poland

Bialystok

Gdańsk

Kalisz

Katowice

Kielce

Konin

Kraków

Lublin

Lublin

Olsztyn

Opole

Poznań

Rzeszów

Szczawno-Zdrój

Szczecin

Szczecin

Toruń

Warsaw

Warsaw

Wroclaw

Zielona Góra

Łódź

Portugal

Aveiro

Braga

Coimbra

Évora

Faro

Funchal

Lisboa

Ponta Delgada

Porto

Romania

Arad

Bacau

Bucuresti

Cluj-Napoca

Constanta

Craiova

Galati

Iasi

Ramnicu Valcea

Timișoara

Slovakia

Bratislava

Prešov

Slovenia

Koper

Ljubljana

Maribor

Spain

Albacete

Alicante

Badajoz

Barcelona

Bilbao

Bilbao

Ciudad Real

Donostia- San Sebastian

Ferrol

Las Palmas de Gran Canaria

Llanera

Logroño

Madrid

Murcia

Oviedo

Palma

Pamplona

Paterna (Valencia)

Santa Cruz de Tenerife

Santander

Santiago de Compostela

Sevilla

Toledo

Valencia

Valladolid

Vitoria- Gazteiz

Zaragoza

Sweden

Borlänge

Göteborg

Jönköping

Kramfors

Luleå

Malmö

Örebro

Östersund

Stockholm

Umeå

Västerås

Växjö

United Kingdom

Belfast

Bristol

Cambridge

Cardiff

Coventry

Inverness

London

Manchester

Newcastle

Yorkshire and Humber

Enter your message here

* required field (you must enter data here)