Investment & Fund Management
European Investment Fund Partner
Full Credential Description
In the 1990s, the agricultural market in Bulgaria faced a significant shortage of agricultural machinery. Recognizing this gap, Tanyo Tanev, who had experience working for Massey Ferguson, established Karad, a company dedicated to importing and distributing innovative agricultural machinery. With a team of 11 professionals, Karad specializes in selling and servicing high-quality agricultural equipment from leading global manufacturers.
To enhance its operations and increase the import of agricultural machinery, Karad secured an EU-guaranteed loan through Cibank, a prominent commercial bank in Bulgaria. This loan was backed by the European Investment Fund (EIF) under the Investment Plan for Europe, which aims to facilitate access to finance for small and medium-sized enterprises (SMEs) across Europe. The funding has enabled Karad to improve its facilities and expand its sales capabilities, positioning the company for growth in the competitive agricultural market in Bulgaria.