Project financing - Multisport

Beneficiary: Benefit Systems Bulgaria OOD

Project with entry reg. №: BG16RFOP002-2.095-4244 under project selection procedure BG16RFOP002-2.095 “Working capital support for SMEs affected by temporary anti-epidemic measures”, implemented under OP “Innovation and Competitiveness” 2014-2020 (OPIC), priority axis 2 “Entrepreneurship and growth capacity of SMEs”, investment priority 2.2. “SME Growth Capacity”. Title of project proposal: Working capital support for SMEs affected by temporary anti-epidemic measures

Goal of the project: Provision of working capital for micro, small and medium enterprises registered in the Republic of Bulgaria, affected by the temporary anti-epidemic measures, for overcoming the economic consequences.

The duration of the project is 3 months

Start date: 28.01.2021

End date: 28.04.2021

Total value of the project: BGN 150,000.00, financed by the European Union (EU) through the European Regional Development Fund, of which BGN 127,500.00 European and BGN 22,500.00 national co-financing

With order RD-01-677 / 25.11.2020 of PROF. Dr. KOSTADIN ANGELOV, Minister of Health as of 27.11.2020, all team and individual sports events of training and competitive nature for persons under 18 years of age were suspended, except for international sports competitions, which began prior to the date on which this order came into force; the visits to the fitness centers and the group exercise halls to them were also suspended. Because of this, the company stopped providing the MultiSport service to all its customers, which resulted in a 100% drop in revenue for the period after 27.11.2020.

The expected result of the support under the procedure is expressed in achieving a positive effect with regard to the activity of Benefit Systems Bulgaria OOD, affected by RD-01-677 / 25.11.2020 for overcoming the economic consequences of the COVID-19 pandemic.

As a result of the implementation of the procedure, the company will continue its activities even after the completion of the project. Activities involved in the implementation of the project are related to activities necessary to overcome the shortage or lack of working capital resulting from the COVID-19 epidemic outbreak.