Kiva.org has partnered with a second microfinance institution in Bulgaria: Microfond, based in Sofia, Bulgaria.
Microfond's mission is to support the entrepreneurs in Bulgaria, by providing alternative sources of financing for start-ups, small and medium business, which do not have access to bank system sources of capital. Microfond's clients are micro, small and middle-sized companies that meet difficulties in financing their business projects by the existing banks and other financial institutions.
Microfond EAD originates from the Microcredit Program of the Resource Center Foundation, supported by the Open Society Institute and the Soros Economic Development Fund. The Sole Owner of Mikrofond EAD is Mikrofond - Sofia Foundation. Microfond EAD operates in 215 municipalities, that are covered by 10 branches and 7 agent offices, in regions with high level of unemployment and low economic growth. We have received a lot of positive feedback from lenders around our Bulgarian businesses, and we are pleased to be offering more businesses from this region through this new partnership. Check out Microfond EAD's MixMarket profile here.