Innovative Start-Up Financing Program in Sofia Municipality
Discover the FISP program by Sofia Municipality, offering support for innovative start-ups. Learn about the Municipal Guarantee Fund, success statistics, national/international recognition, and program priorities for women entrepreneurs and other projects. Explore guaranteed programs and criteria for SMEs in Sofia.
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Presentation Transcript
Program FISP Financing innovative start-ups progr am in Sofia Municipality
Agenda What does the Municipal Guarantee Fund (MGF) do and what programs does it provide for SMEs? 01 02 What is program FISP and what are its priorities? 03 National and international recognition 04 Which project do we consider as innovative? 05 Additional questions
Our success in numbers Supported SMEs: The Fund has supported over 630 SME projects. Total guarantee portfolio: The Fund has issued guarantees for credits for over BGN 117 million. Total volume of guarantees: The Fund has issued guarantees for SME s for over BGN 31 million.
National and international recognition
Funds Guarantee Programs General program FISP program Guarantees up to 50% up to 30 thousand BGN Maximum warranty period - 60 months Enterprise created no more than 3 years ago or already successful ones providing innovative projects and business proposals To comply with the SME Act The headquarters or activity must be on the territory of the Sofia Municipality Collateral worth at least 60% according to the bank's assessment of the value of the loan Guarantees up to 50% up to 100 thousand BGN Maximum warranty period - 84 months To comply with the SME Act The headquarters or activity must be on the territory of the Sofia Municipality Have a collateral with a liquidation value as assessed by the bank for at least 60% of the loan amount. Fees under the Fund's internal rules in the absence of 100% collateral by first mortgage of real estate, pledge of government securities, cash deposit or other low-risk liquid collateral.
Program FISP priorities Women entrepreneurs: Projects: With a Bachelor degree in the field of the project creating new jobs for the unemployed Projects of: Startups: Created no more than 3 years from the request for warranty support Men and women under 35 or over 50 years old Projects with: Innovative products: social and ecological effect from the realization of the innovative idea Introduced by already proven and established SME s
What does innovation mean and how we can recognize if a project meets the FISP criteria? Product innovation Process innovation Marketing innovation Organizational innovation
Contact details Main Office Sofia 1000 11 avgust str. 4 fl.2 tel. 02/ 980 9938, office@ogf-sofia.com Official website of The Fund www.ogf-sofia.com
