What we do
Public consultation on the EIB Group's Environmental and Social Sustainability Framework - informational webinars
Public consultation on the EIB Group's Environmental and Social Sustainability Framework
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Sustainable Development Umbrella Fund
SDUF Health Compartment
Equity products
AI Co-Investment Facility
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
InnovFin SME Guarantee Facility
COSME - Loan Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
Central and Eastern European Technology Transfer (CEETT)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece

How EFSI benefits SMEs in Europe - Bulgarian Development Bank case study: Kloshar Bags (Bulgaria), Textile

image

An interest in music and art is the common element behind the diverse clientele of Kloshar Bags, a bespoke street fashion brand based in Sofia, Bulgaria. The origins of the company can be traced back to when Deyan Milenkov decided to give his sister Natalyia a vinyl record bag as a present. After some time, Natalyia was making her own bags for herself and her friends, with Deyan eventually developing a Facebook page for Kloshar Bags.

The brand quickly gained its first fans in the world of social media, but with this growth came also the increasing need for investment in materials and logistics. Deyan and Natalyia decided to leave their previous jobs in order to dedicate all their time and resources to the company, and they started to look for support and partners that could enable this growth.

They found this support in the form of an EU-guaranteed loan through the JOBS Microfinance Institution, backed by a guarantee of the National Guarantee Fund and a counter-guarantee by EIF. As Deyan explains, “we were expecting more sluggish procedures, but it turned out that we were wrong. Naturally, there was a filling-in of documents, but the most important thing was the attitude they had with us. The bank employees were with us 24/7.”

The loan allowed Kloshar Bags to launch their own online shop and expand the team, exploring new markets as their unique bags are supplied to clients across the world, from the United States to South Korea.

Kloshar’s bags incorporate authentic and useable records in their products, with the bags built out of single pieces and custom-made at the client’s wish, personally handcrafted by Natalyia. Together with the signature vinyl record, clients can choose from a multitude of design elements: Spider webs, wings and crocodile skin are mixed with space motifs and holographic elements, neon colors and various painted fabrics.

Company: Kloshar Bags (Bulgaria)

Type of business: Textile

EIF financing: COSME LGF, EFSI

Financial intermediary: Bulgarian Development Bank Group; National Guarantee Fund 

For further information about EIF intermediaries in Bulgaria, please refer to: http://www.eif.org/what_we_do/where/bg

 

We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

 European Investment Fund 2021 – The European Investment Fund is not responsible for the content of external internet sites.