
Municipal Guarantee Fund for SMEs of Sofia
4 “11 August” Str. 2fl.
1000 Sofia
Bulgaria
+359 2 9809938
office@ogf-sofia.com
www.ogf-sofia.com/en/

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 BGN 100,000 and/or up to 50% of the principal of the loans. Up to now the Fund has supported over 630 SME projects by contributing to lending over BGN 117 million with a guarantee commitment of the Fund of about BGN 31 million.
In 2018 the Fund launched FISP – Financing Innovative Start-ups Program, which is aimed at facilitating the access of start-up and innovative enterprises to financial resources in connection with the realization and development of their business projects.
Year of creation individual entities or association | 2002 |
Type of organization National Promotional Bank (NPB), National Promotional Institution (NPI), Private, Mutual, Mixed | NPI |
Type of scheme guarantee or counter-guarantee | Guarantee |
Product typology guarantee or counter-guarantee or co-guarantee | Guarantee |
Ownership i.e. fully mutual, funded by SMEs, banking associations, fully public, fully private, private-public, mixed models | Fully public |
Shareholder structure Private / Public (in %) | 0/100 |
Legal form of single guarantee entity or association: i.e. fund, development bank, development agency, cooperative or mutual societies, bank, foundation, association, limited company, etc. | Fund |
Structure / Network i.e. central scheme with regional offices, central scheme only, association network | Regional structure |
Geographic coverage i.e. local, regional, national | Regional |
Size of businesses supported i.e. large companies, SMEs, micro-enterprises, independent/self-employed | SMEs, Micro Enterprises |
Supervision statute i.e. mono-product banking licenses, financial intermediary statute, non-supervised. For associations, please state statute of members | Financial Intermediary Status |
Profit / Non-profit oriented dividends to public shareholders are not considered as profit orientation | Non-profit |
Do you benefit from a counter-guarantee at local, regional or national level? Local level or Regional level or National level | No |
Are you/your members financial intermediary for EU-programmes? CIP/COSME or Structural funds or Progress or RSI/RSFF Horizon 2020 | No |
Types of guarantee products provided by your organisation/your members | Loan default guarantees, Working capital loan guarantees, Leasing guarantees, Export guarantees |
Other SME support instruments offered by your organisation/your members Subsidized loans or Mezzanine financing or Venture capital or Coaching or Mediation services | Coaching, Information and Consultation Services |
Is the activity subject to state aid regulation? | No |
Do you (your members) use..? De minimis or GBER or Regional guidelines or Notification | No |
Do you (your members) dispose of an internal rating/scoring system? | No |
Do your guarantees provide deponderation (capital relief) for member banks subject to capital requirements (Basel agreement)? | Yes |
Do you (your members) benefit of a public counter-guarantee that allows deponderation (capital relief)? | No |
Downloads
Financing Innovative Start-ups Program application/pdf | 1,41 MB |