Companies can calculate whether their project meets the requirements for financing under “Innovations and Competitiveness” 2014 – 2020.

Companies can now calculate on their own whether they can receive financing from the European Union thanks to the first digital calculator for the small business by UniCredit Bulbank. The calculator gives the answer to the question what evaluation would a company get in case it applies for the procedure “Improving the production capacities of SMEs” under the Operational Programme “Innovations and Competitiveness” 2014 – 2020.

The digital calculator is available to the clients of UniCredit Bulbank on the bank’s website. In order for a company to obtain an evaluation, the data from its annual financial statements for the last three years has to be provided. Besides, estimates of net sales revenues, staff costs, export revenues and costs for raw materials for the period 2016 – 2019 have to be entered as well.

The calculator saves time, resources and efforts and gives preliminary information to each company whether it meets the requirements under the Procedure “Improving production capacities of SMEs”. In order to participate in the ranking, the required minimum score is 51 points, whereas the maximum is 85 points.

Within this procedure, for the first time, the project proposals will be evaluated on the basis of financial criteria announced in advance and divided into four groups:

• Group 1: Economic and financial stability of the candidate prior to the implementation of the project (financial results for the last 3 financial years);

• Group 2: Capacity of the candidate in investment projects and management (indicators of the investment history for the last 3 financial years);

• Group 3: Effect from the implementation of the project (financial forecasts for the period 2016 – 2019);

• Group 4: Prioritization of projects (objective characteristics: thematic field of the project, location, incorporation of new technologies for resource effectiveness and efficiency; experience under the OP “Development of the Competitiveness of the Bulgarian Economy” 2007 – 2013).

The indicative calculator for the evaluation of projects under the OP “Innovations and Competitiveness” was developed by UniCredit Bulbank on the basis of the “Criteria and methodology for the assessment of project proposals”, published by the Ministry of Economy, under the “Improving the production capacity of SMEs” Procedure.

The Procedure for “Improving the production capacity of SMEs” started on 8 May 2015, and the deadline for applying is 9 November. Companies may apply for grants for purchasing long-term tangible and intangible assets. The condition is that they contribute to the improvement of the production processes and existing products and services, to the diversification of the product range and the implementation of new technologies for better resource effectiveness and efficiency.

The Operational Programme “Innovations and Competitiveness” 2014 – 2020 was officially approved for implementation by the European Commission on 16 March 2015 with a budget of nearly 1.4 billion euro. The main objective of the Programme is to support the Bulgarian enterprises and to stimulate the growth in catch up phase as well as the sustainable development of the economy in our country.

More than 50% of the budget of OP “Innovations and Competitiveness” is aimed at supporting the development of entrepreneurship and ensuring that there is a capacity for growth of the SMEs in the country. Within this priority, more than 7 thousand enterprises are expected to receive assistance.

Companies can find an Information Bulletin with all the details regarding the procedure, including the eligibility criteria, the requirements for applying as well as the necessary documents on the website of UniCredit Bulbank.

Further information for clients:

UniCredit Bulbank, Call Centre

Phone number: 0700 1 84 84

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch