Euro project financing in context of COVID 19
Brain Storm Consult always strives to develop its portfolio of services to offer its clients up-to-date business opportunities and effective solutions. We do not stop optimizing our processes and keeping up with the times and its economic challenges. That is why we are ready to stand by you and your business again to offer the best we are capable of.
Brain Storm Consult in partnership with Getzov and Partners Consultants EOOD, provide consulting services and support under the measures for financing with European and national funds. We can also provide full assistance in the procedures for applying for financial support in the context of COVID 19.
In this regard, we would like to inform you that the application for the working capital support program has already started with relaxed conditions. With the amendments to the Law on Measures and Actions during the State of Emergency (promulgated on 22.12.2020) the requirements to the candidates have been changed in the following directions:
– More favorable conditions regarding the existence of obligations to the state and the municipality;
– There will be no inspection in the Executive Agency “General Labor Inspectorate” in relation to those specified in Art. 54, para. 1, item 6 of the Public Procurement Act penal decrees.
So far, almost 900 companies have submitted project proposals, and the application deadline is January 20, 2021.
More about the program
The program is aimed at micro, small and medium enterprises, whose activity is limited by the temporary anti-epidemic measures introduced in the country by Order № RD-01-626 / 27.10.2020, Order № RD-01-655 / 13.11.2020 . ,, Order № RD-01-677 / 25.11.2020 and Order № RD-01-718 / 18.12.2020 of the Minister of Health. The affected businesses will be provided with working capital after applying for a project and its approval, according to the announced by the Ministry of Economy and the National Revenue Agency program “Support through working capital for SMEs affected by temporary anti-epidemic measures.” The aim is to provide funds to overcome the economic consequences for the affected companies, their stabilization, especially in terms of job retention.
In this regard, the total budget provided under the program is BGN 156 million, provided by the European Regional Development Fund and the National Co-financing. The funds are provided under the Operational Program “Innovation and Competitiveness” 2014-2020 (OPIC).
Who can be a candidate for the program?
Applicants must be micro, small or medium-sized enterprises – legal entities or sole traders registered under the Commercial Act or the Cooperatives Act or legal entities registered under the Non-Profit Legal Entities Act, and registration should be done no later than from 01.10.2020. They must also meet the following conditions:
Micro-enterprises with up to 10 staff and annual turnover up to BGN 3,900,000 and / or asset value up to BGN 3,900,000.
Small enterprises up to 50 employees and annual turnover up to BGN 19,500,000 and / or value of assets up to BGN 19,500,000.
Medium-sized enterprises with less than 250 employees and annual turnover up to BGN 97,500,000 and / or asset value up to BGN 84,000,000.
Have ceased in whole or in part (restaurants only with home delivery, close sites in shopping centers, etc.) their activities, according to Order № RD-01-626 / 27.10.2020, Order № RD-01-655 / 13.11 .2020, Order № RD-01-677 / 25.11.2020 and Order № RD-01-718 / 18.12.2020 for temporary anti-epidemic measures of the Minister of Health.
The enterprises / sites to perform one of the ones indicated in Order № RD-01-626 / 27.10.2020, Order № RD-01-655 / 13.11.2020, Order № RD-01-677 / 25.11.2020 and Order № RD-01-718 / 18.12.2020 of the Minister of Health.
How to apply?
All detailed requirements and application documents for the program “Support through working capital for SMEs affected by the temporary anti-epidemic measures” have been announced on the NRA website. Brain Storm Consult can provide you with full assistance throughout the application process. For more information, do not hesitate to contact us. You can write to us at email@example.com, as well as contact us at +359 2 80 99 740
- Sofia, 9 Lyuba Velichkova Str., 6th floor,
- +359 2 80-99-740