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Business loans snub property slump
19.11.2009   dnevnik 26/10/2009

Nonbanking lender Creditex said in a new

Business loans snub property slump
The slide in property prices is having no direct impact on most company
’s

capacity to repay their loans, nonbanking lender Creditex said in a new
report.
However, companies directly involves in sectors that have been
pounded by the price fall such as construction are finding it hard to keep
up with monthly payments. Since its inception in 2004, Creditex has given
business mortgages worth more than BGN 100 million. Two-thirds of this has
been handed out to small and medium companies. The loans average BGN 150,000
and come with a repayment period of one to 25 years.


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