Mikrofond AD

MIKROFOND was established in 1999 with the goal to finance Bulgarian entrepreneurs, who did not have access to bank financing. 

On february 10th 2010 the company signed a loan agreement for 3 000 000 EUR with the European Investment Fund, under themicrofinance
mechanism PROGRESS of the European Union. 

The early operations of the company were funded by Soros Economic Development Fund in cooperation with United Bulgarian Bank and Raiffeisenbank Bulgaria. After the year 2003 the Mikrofond managed to attract more than 5 000 000 EUR from international financial institututions, among which  Dexia Microcredit Fund,  Oikocredit, Deutsche bankDeveloping World Markets, European Investment Fund,

At the end of 2007 the Soros Economic Development Fund appreciated the the advantages of the financial services offered by Mikrofond AD - quick and simple procedure, loan officers with more that 9 year of experience in working with micro and small businesses, flexibility, outreach remote rural areas - and invested 1 000 000 BGN in the equity of the company.

Today Mikrofond AD is sustainable microfinance institution with 10 branches in the country, suppying alternative funding for start-up, micro and small businesses, which do not have access to bank funding.

Our results so far:
- loans disbursed - 10 000;
- value of loan disbursed– 70 000 000 BGN;
-over 1 000 new jobs created by clients;
- over 750 start ups.

Our vision is to be a sustainable financial institution which accumulates social and community capital and will fund microentrepreneurs and sustainable projects with social impact.

Our mission is to provide loans to micro entrepreneurs and to fund home improvement projects of low-income or underserved families and to maintain good financial results in order to serve our clients in the long-term.

Our clients are the active entrepreneurs, who are registered as legal entities, private agricultural producers and freelancers.

The values we beleive in and that support our success are: professionalism and readiness to help every entrepreneur to develop the project; flexibility to solve each client's problem; honesty; transparency.