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Financing up to BGN 100 000 for medium-sized businesses is being discussed

Documents to the procedure “Support for medium-sized businesses to overcome the economic consequences of the COVID-19 pandemic” have been published. They envision a grant in the amount of BGN 30 000 to BGN 100 000 under a new scheme of the Operational Program “Innovation and Competitiveness”

The grant amounts to a total of BGN 156 000 000. The criteria for receiving the grant include revenues of a minimum of BGN 3 000 000 and a maximum of BGN 50 000 000 of the applicant companies, as well as a decrease of 20% in their turnover in the month after 1st February to the month preceding the month in which the grant is applied for.

Grants will not be awarded to candidates in liquidation, insolvency, at fault of non-execution of a public procurement, received illegal EU funding, as well as those with public liabilities. Applicants in the financial field are not allowed, as well as applicants in the field of agriculture and fisheries, and aquaculture, for the latter there are other programs for which they can apply.

In case the procedure is approved in this form, the payment will be made in two variants.

In the first case, the amount is paid in full at the end of the project, after the submitted invoices are approved. In the second case, 40% of the grant is paid in advance and the final payment is made after the costs have been checked, confirmed, and verified.

The procedure will be performed through the Information System for Management and Monitoring of EU Funds in Bulgaria (UMIS), and all documents will be submitted entirely electronically and will be evaluated entirely electronically.