Investment & Fund Management
which was backed by a guarantee from the National Guarantee
Full Credential Description
Kloshar Bags, a bespoke street fashion brand based in Sofia, Bulgaria, faced significant challenges as it sought to expand its operations. Founded by Deyan Milenkov and his sister Natalyia, the company initially gained traction through social media, but the rapid growth necessitated investment in materials and logistics. To address these needs, Deyan and Natalyia decided to leave their previous jobs and fully commit to the business, prompting them to seek financial support.
The tailored solution came in the form of an EU-guaranteed loan facilitated by the JOBS Microfinance Institution, which was backed by a guarantee from the National Guarantee Fund and a counter-guarantee from the European Investment Fund (EIF). This financial support was crucial in enabling Kloshar Bags to launch their own online shop and expand their team. The process was smoother than anticipated, with Deyan noting the exceptional support from bank employees throughout the loan application process.
As a result of this funding, Kloshar Bags successfully explored new markets, reaching clients globally, from the United States to South Korea. The unique selling proposition of Kloshar's products lies in their incorporation of authentic vinyl records, with each bag being custom-made and handcrafted. This innovative approach not only enhanced their product offerings but also allowed them to cater to a diverse clientele, combining various design elements to create distinctive fashion items. The financial backing thus not only facilitated operational growth but also positioned Kloshar Bags as a unique player in the textile industry.