HISTORY

MIKROFOND started operations in 1999 in the town of Smolian with the goal to finance Bulgarian entrepreneurs, who do not have access to the bank system. 

Initially the insititution has been funded by United Bulgarian Bank and Raiffeisenbank  with the support of Soros Economic Development Fund. After 2003 the company has received funding for more than 5 000 000 EUR from international financial institutions, among which Deutsche bank, Dexia Microcredit Fund, Oikocredit.

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 - 9000;
- value of loan disbursed– 57 000 000 BGN;
-over 1 000 new jobs created by clients;
- over 350 start ups.