The Sofia Council approved the first package of measures in support of some of the most severely affected businesses by COVID-19.

The measures include: 

The establishment of a guarantee fund of 1 million leva which will allow banks to issue guarantees on loans to self-employed people and SMEs affected by the crisis: 

– securing up to 50% of the principal sum of the loans up to 50 000 leva;
– Sofia Municipality will announce a competition for the election of a financial intermediary to provide additional guarantee loan coverage.
– the guarantee limit will be up to 300 000 leva – thus guarantees may reach 80%.

Exemption from:

– street trading license fee of owners of business premises and restaurants that were closed due to the COVID-19 crisis.
– rent from traders, tenants of municipal property for the time their premises have been closed due to COVID-19.

Rent discounts for municipal tenants who have been working but are facing a decline in their turnover compared to the same period last year.

– 50% discount at a 50%+ drop
– 20% discount at a 20%-50% drop

(The measures apply to all tenants of municipal trade premises. They should show a proof of the  decline in turnover – a declaration and accounting documents).

The measures that have been voted upon are in support of the family- and medium-sized businesses in Sofia and include additional instruments in support of artists, cultural institutions, and municipal polyclinics.