Micro-credit program for small entrepreneurs

Implementation of a micro-credit program for small entrepreneurs, supported and funded by Catholic Relief Services – Bulgaria (June 1999 - June2000)

Starting with assistance in the initial needs analysis in 1998, REDA was the main local counterpart in the implementation of a Catholic Relief Services-supported micro-finance program for credit cooperatives, comprised of individual micro-entrepreneurs of the community with limited or no access to formal financial services. The program has already proven to be an unqualified success, as since 2000 it has an independent office in Stara Zagora with guiding functions for the rest of the Bulgarian regions. More than 1200 micro-entrepreneurs have received micro-credits by the end of June, 2003, 750 of them – from Stara Zagora.