26.03.2012Municipal Bank Among Selected to Finance SMEs
Monday, 26.03.2012
Municipal Bank AD will offer financing to small and medium enterprises by funds provided by the Bulgarian Development Bank (BDB). The contract was signed on 26 March between BDB’s CEO, Assen Yagodin, and the executive directors of six commercial banks, including Municipal Bank’s Executive Director, Sasho Tchakalski.
“These target funds for the small and medium enterprises come at just the right economic moment. Businesses need such a support in times of crisis,” Municipal Bank’s Executive Director commented. “Our bank will extend loans to SMEs at preferential terms – interest up to 7% p.a., amount up to BGN 2 million and maturity up to 5 years,” Mr. Tchakalski added.
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