Application procedure details - step 1

1. Initial Eligibility Check

To find out if a business’ project met the BEERECL eligibility criteria the business contacted the consultant:

• Informally, through a phone call or visit to their office; or
• Formally, by submitting an official application. Businesses could find the application form, along with a list of all documents required to determine project eligibilit here

2. Formal Eligibility Check

When a business was ready to proceed with the formal eligibility check, they sent their completed application form in Bulgarian or English to the consultant. The form had to be signed by a person with signatory authority for the company and was to be accompanied by all required documents outlined in the application form, as well as electronic copies of the documents.
he consultant notified the business of the project’s eligibility decision in writing within 10 working days of receiving the complete application form and all required supporting documentation.

An eligibility decision was only made when the consultant had all of the required information.
If an eligibility question had to be discussed with the EBRD, the consultant informed the business within 10 working days. Businesses received their final eligibility determination within 3 working days of the response from EBRD.
If a business disagreed with the eligibility determination, they had the right to appeal the decision within 30 days, according to the appeals process.

3. Waiver Letter

As soon as a business was informed of their project’s eligibility, they were to download the Waiver Letter (or request that we send you a hard copy) and submit two completed original, signed copies to the consultant.

4. Term Sheet

Upon submission of the Waiver Letter, the business selected their bank and negotiated their term sheet, which indicated the loan parameters, such as amount, interest, term and grace period.