4 “11 August” Str. 2fl.
1000 Sofia

+359 2 9809938


The Municipal Guarantee Fund for SMEs is a unique financial instrument launched and developed by the Sofia Municipality in support of the entrepreneurship and innovation ecosystem in Sofia. It aims at raising the competitiveness and success rate of SMEs in Sofia and applying the ”Think Small First“ principle at the heart of the municipal economic policy. The Fund has the mission of providing loan guarantees for SMEs who have an economically sound project but cannot secure sufficient bankable collateral.

Through its general guarantee scheme, MGFSME partly covers the credit risk associated to loans extended to SMEs by 13 banks – partners of the Fund at a value up to kBGN 100  and/or up to 50% of the principal of the loans.

In 2018, the Fund launched FISP – Financing Innovative Start-ups Programme, which is aimed at facilitating the access of start-up and innovative enterprises to financial resources in connection with the realisation and development of their business projects.

As of end-2021, MGFSME had an outstanding guarantee volume of mEUR 2.8 and supported a total of 460 small and medium-sized enterprises.

AECM accession year2018
Legal formFund
Geographical and sectoral coverageLocal
All sectors
ProductsLoan guarantees, Leasing guarantees, Export guarantees, Coaching, Information and Consultation Services
Counter-guaranteeNo counter-guarantee

Sofia/Brussels, 13th September 2022