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Candidates for eurofunds gradually increase

Submitted on Monday, 10 November 2008No Comment

The european funds are steadily becoming a main source of business financing in the current situation of tighter crediting control. Those were the conclusions of a study by “Best credit Bulgaria”, informs the newspaper Monitor.

In the situation of tighter conditions for business credits during the last few months, the financing through european funds is a good alternative for the realization of investment plans of firms. The companies can get from 30 % to 65 % of the value of their investment in the form of a gratuituous subsidy.

To use the euro funds provided for different programs, the companies apply with a project that has to be approved by a european committee. The approved projects are realized with the help of bank credits.

Unlike the traditional business credit, the loans of approved projects are given more easily and a lower interest can be negotiated for.

Until the end of 2015, Bulgaria is expected to absorb nearly seven billion euro from the funds.