BUSINESS

CEC Bank, EUR 25 million loan for SMEs and local government

CEC Bank has signed with the Council of Europe Development Bank (CEB) a loan agreement worth EUR 25 million for financing investment projects of small and medium enterprises (SMEs) and Local Government (LG), informs a press release . Accessing new loan product developed by CEC Bank in agreement with CEB, SMEs will receive credit for a maximum period of six years with a grace period of one year and LGs for a period of 10 years, two-year grace period. CEB will be funding 50 percent of the total project cost, the difference can be provided by the customer from their own sources or calling the CEC Bank loans in portfolios. The amount of funding provided by the CEB will be up to EUR 1 million for SMEs and up to EUR 2.5 million for LGs.

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