Corporate Newsletter

How do I know whether I am a fast-growing company?

If your company cumulatively meets the following conditions:

• operates in a market for less than 10 years following its first commercial sale;
• an average annualised endogenous growth in employees or in turnover greater than 20% a year, over a three-year period;
• ten or more employees at the beginning of the three-year observation period.

What is considered innovation?

Any investment in producing, developing or implementing new or substantially improved products, processes or services, or production or delivery methods, or organisational or process innovation including business models that are innovative and where there is a risk of technological or industrial or business failure, as evidenced by an attached business plan.

• Investment in new production line/machine software;
• A company producing buttons has decide to add a new type of product to its business – "needles", "threads" and/or to introduce a new technology for button production (from recycled components) – this will be considered an innovation.

What is considered digitalisation?

Introducing any kind of digital solutions for the business, including investing in training and upskilling in digital skills of existing workers and employees, recruitment of new workers with digital skills and development of management and business skills in a digital world; increasing security of data or business resilience against threats of cyberattacks, data protection and privacy etc.

What sort of patent, certificate and/or award do I need to hold?

If the company holds a registered patent, certificate, utility model, trademark, technological right or has been awarded an innovation prize by a European institution/organisation or has been awarded grants, loans or guarantees from European and/or local R&I support schemes over the last 36 months.

Can my company invest in the purchase of vehicles?

Yes, the purchase of new vehicles, motorcycles and heavy goods vehicles is eligible, but they must be low and/or zero emission or fully electric. Financing of electric charging stations, grid retrofit stations, hydrogen refuelling stations or electric road systems designed for vehicle operation is also eligible.

Can my company invest in the construction/renovation of green buildings?

The construction and/or renovation of commercial and/or industrial buildings according to a predefined list of standardised building renovation measures/eligible equipment is allowable.

Can my enterprise invest in the construction of renewable energy infrastructure and/or the production of renewable energy elements and components?

Yes, investments in solar energy generated through panels (PV), through concentrated solar power (CSP) technology, through solar thermal systems for heating and cooling, including installation and grid connection costs; investments in wind energy; investments in geothermal energy; investments in renewable energy storage solutions; investments for the production of components, installations/assemblies, capacity increase in the production of renewable key components and machinery, are eligible.

I want to invest in the purchase of organic fertilizers in order to carry out organic farming. Is this eligible under the programme?

Yes, investments in the purchase and/or production of fully organic fertilizers and crop protection products created entirely from algae, proteins and insects; and the implementation of all agroecological practices and/or conversion to organic agriculture are eligible under the programme.

If my company already holds certain certificates do I need to present them to the Bank?

Providing an energy certificate (for the relevant energy class acquired); holding a document certifying that the asset acquired and/or being built will achieve specific savings; by holding a certificate for biofertilizers (content of the individual components), etc., the relevant enterprise evidences its eligibility under the programme and these should be presented to the Bank.

What are the most important parameters for my company if I wish to obtain financing under this programme?

• What energy, cost, capacity and human factor savings will be achieved by the specific investment I undertake;
• What will the actual ratio of these savings be compared to my current performance;
• Where can I obtain the relevant certificates and/or supporting documents and which Government Agency can provide my company with the required documentation.

Is there accessible information for anyone who wishes to invest and improve their business in the field of green and sustainable solutions?

There is a link on the European Investment Fund website to a specially developed tool, where, by entering minimal information, you can calculate whether your company meets the relevant criteria. The tool can be accessed from the website of EIF InvestEU Sustainability Guarantee.

If the company represented by me is a public enterprise active in the field of education, will it be eligible for the programme?

Yes, small public enterprises are eligible (in accordance with the Public Enterprises Act of the Republic of Bulgaria).

Can my company invest in the founding of a crafts school?

Yes, this will be eligible under the programme.

My company operates in the field of film industry and film art. Will film funding be eligible under the programme?

Yes, this will be eligible.

My company has developed a project in the cultural and creative sector and this project has received an award. Will my company be eligible for funding under the programme?

Yes, it will be eligible, provided that the award was acquired in the last 36 months.

My company has 310 employees. Will it be eligible under the programme?

No, eligible enterprises are those that meet the criteria for SMEs under the SME Act in Bulgaria, i.e. enterprises with an average number of listed employees of up to 249 and net sales revenues of up to BGN 97.5 million and/or value of fixed assets of up to BGN 84 million.

My company needs working capital financing for the purchase of goods and services for its core business. Is this eligible?

Revolving limits and term working capital loans with a repayment plan are eligible.

Can my business invest programme funds in the construction, subsequent sale and/or purchase of a residential building/property?

No, this will not be eligible. According to programme criteria, this is a prohibited activity.