BPB signs the Guarantee Agreement for Kosovo Credit Guarantee Fund (KCGF)
Today, on August 24 2016 Bank for Business signed the guarantee agreement with the Kosovo Credit Guarantee Fund. The KCGF guarantee enables the bank an increase in lending to micro, small and medium enterprises (MSMEs) in Kosovo and thus facilitates access to finances for all MSMEs which require loans to meet investments needs so as to increase their business or for the purpose of having working capital. Through this agreement, the BPB will get more collateral security for loans issued to these enterprises.
The agreement reflects a cooperation where the beneficiaries are Kosovar businesses which are a very important factor for the country’s economy. By financing these businesses we will not just support growth in this sector, but also the overall economic development. The development of these businesses will increase the number of employees and will create larger businesses, which will result in regional development.
Application procedure for a guarantee: All businesses apply for loans in accordance with the Bank’s standard procedures. In cases the client does not meet all the conditions of borrowing, such as collateral value, mortgage or other conditions, the Bank will issue a loan using the KCGF guarantee.
Businesses are not eligible to apply for guarantees directly with the KCGF.