Micro-entrepreneurs in Bulgaria
Micro, small and medium-sized enterprises (MSMEs) are the backbone of the Bulgarian economy. They account for 99% of all businesses in Bulgaria and 76% of employment, well above the EU average of 67%. However, they face difficulties in accessing finance as banks are reluctant to lend to them due to insufficient collateral or lack of credit history.
To improve access to finance for Bulgarian MSMEs, the CEB works with microfinance institutions such as SIS Credit. As the largest private microfinance institution in Bulgaria, SIS Credit supports social entrepreneurs, start-ups and women-led businesses, as well as vulnerable individuals. In 2024, the Bank approved a €3 million loan to SIS Credit to support the development of its lending to the above-mentioned groups. In parallel, the Bank commissioned a study on the social and financial impact of its lending. The study will identify lessons learned and best practices that SIS Credit and other microfinance institutions can use to improve their operations.
Given the strong social impact of the CEB-SIS Credit collaboration, the European Union is supporting it in two ways through its InvestEU initiative. The loan to SIS Credit is guaranteed by the InvestEU Fund and the Bank's Social Impact Account. Without these loan guarantees, SIS Credit would not have been eligible for a CEB loan. In addition, the study on the impact of the SIS Credit loan is funded by grant from the InvestEU Advisory Hub.
In this section
- Housing in Ukraine
- Earthquake preparedness in Türkiye
- Social housing in the Republic of Moldova
- Bolstering Türkiye’s healthcare infrastructure
- Digital training courses in Albania
- Integration of Roma
- Inclusion of migrants across Europe
- Sustainable procurement in the Balkans
- Reconciliation in Bosnia and Herzegovina
- Women entrepreneurs in Bosnia and Herzegovina
- Micro-entrepreneurs in Bulgaria
- A regional hospital in the Republic of Moldova
- Social housing in Montenegro
- Strengthening paediatric care in Ukraine