Portfolio Risk Sharing Loan (PRSL)

The purpose of this financial instrument is provide loans with low interest rates to  Micro, Small and Medium-sized Enterprises (SMEs) in order to reduce the particular difficulties that SMEs face in accessing finance resulting from the mismatch between  interest rate levels requested from the banks and the ones  businesses could afford to pay. 

The overall budget of the instrument allocated under JEREMIE in Bulgaria has an initial amount of EUR 150 million. As the instrument requires the Financial Intermediaries (FI) to match the resources provided by public funds, the total budget coupled with the private contribution equals EUR 300 million.

Key Terms

The resource provided through the JEREMIE initiative will bear an interest rate of 0%, which the participating banks are contractually required to transfer to the SMEs. Therefore each loan extended under the initiative will comprise of 50% funding provided under the PRSL product at 0% and 50% funding provided by a bank at market rate, thus decreasing the interest rate level to the SMEs by at least in half.

The key terms of the instrument are as follows:

Preferential conditions: Interest rate levels decreased by at least 50% from the standard levels of the bank; reduction in the requested collateral, reduction in the  fees & taxes on the loans extended.

Maximum loan amount: EUR 2 million (subject to compliance with State-aid rules).

Interest rate level reduction: 0% interest rate on the part loan funded through PRSL (i.e. 50% of each loan extended under the product); potential further reduction on the interest rate level of the loan portion financed by the bank.

Loan Purpose: Investment and / or working capital.

Maturity: up to 120 months (10 years) with the possibility of a grace period of up to 24 months or 1/3 of the loan term.

Eligibility Conditions:

  • The borrower must be registered under the Commerce Act of Bulgaria
  • The borrower must be an SME;
  • The borrower must not be a “firm in difficulty”;
  • The borrower or the transaction to be financed must not be operational in the sectors stipulated by Article 1, paragraphs 1 of Reg. 1998/2006;
  • Furthermore, investments are subject to restrictions in relation to SMEs active in the following sectors:
       1. Arms production and trading;
       2. Gambling;
       3. Tobacco;
       4. Human cloning;
       5. Genetically Modified Organisms.

Note: Re-financing of an existing loan is not permitted through this instrument.

Selected Financial Intermediaries (banks) 

EIF has signed four Funding Agreements with five Bulgarian banks for a total resource of EUR 310m (EUR 155m JEREMIE contribution) in 2012 and 2013. Since then, Allianz Bank, First Investment Bank, ProCredit Bank, Societe Generale Expressbank and UniCredit Bulbank have been extending loans with significantly reduced interest rate conditions to the SMEs. The respective contact details of each bank are presented below:


Allianz Bank Bulgaria

Tel: 0800 13 014

Email: support@bank.allianz.bg
Web: Allianz JEREMIE Loans 


First Investment Bank

Tel: (02) 800 28 78/ 28 76/ 2915 
Web: FIB JEREMIE Loans   


ProCredit Bank (Bulgaria)

Tel: +(359) 700 1 70 70 
E-mail: contact@procreditbank.bg
Web: ProCredit JEREMIE Loans  




Raiffeisenbank (Bulgaria)

Tel: +(359) 2 91 985 101
E-mail: rbbg.smemail@raiffeisen.bg, rbbg.allocations@raiffeisen.bg
Web: Raiffeisen JEREMIE Loans   



Societe Generale Expressbank
Telephone: 0800 18 888
Web: JEREMIE Loans


Unicredit Bulbank

Daniel Enchev, Kiril Stoychev
Tel: +(359) 2 923 25 77 / 23 80
E-mail: ecc@unicreditgroup.bg
                                                           Web: JEREMIE Loans by UniCredit Bulbank 




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