P2P Lending in Bulgaria

The Bulgarian Market for Crowdfunding

According to data from the latest report by Cambridge Centre for Alternative Finance (CCFA) on the global market of alternative finance and crowdfunding, Bulgaria had a total funding volume of €36.1 million in 2018, up from €10.7 million in 2017, which corresponds to an impressive growth rate of 238.3%. This places Bulgaria’s crowdfunding market as number 21 in Europe and as number 45 in the worldwide crowdfunding statistics. The countries topping the list in Europe are the United Kingdom, the Netherlands, Germany, France, and Italy.

Below, you will find a complete list of all Bulgarian peer-to-peer lending platforms.

Table of Contents

Best P2P Lending Platforms in Bulgaria

Here, you will find a list of the top peer-to-peer lending platforms in Bulgaria. Under each platform, you will find a brief description of the platform and the type of peer-to-peer lending available for investing on the platform. The list is sorted alphabetically, but to promote platforms contributing to transparency in the market, we have placed the platforms sharing data about their funding volume and other relevant statistics on the top. If you see a platform missing, please feel free to submit the platform by using the submit formula located in the sidebar of this page.

Klear

Klear facilitates crowdfunding in the area of consumer lending to Bulgarian citizens at a minimum investment of 100 BGN. The platform offer personal loans for purposes such as renovation of home, car, bike, boats, refinancing and other consumer projects. Klear lending was founded in 2015 by Loic Le Pichoux, Lukasz Lukaszewski and Nikolay Stanev as a Bulgarian company. The office and company is located in Sofia, Bulgaria and exclusively offers financing to residents of Bulgaria. All loans are in Bulgarian Lev(BGN).

Any person of at least 18 years old that is a citizen and tax resident in EU/EEA with a EU/EEA bank account can invest on Klear.

Any Bulgarian citizen above 18 years old can apply for a loan between 1 000 and 30 000 BGN with a duration of 1 to 5 years.

Cashlend

Cashlend facilitates crowdfunding in the area of loan originator lending to the personal loan originator MyCredit from Bulgaria at a minimum investment of 100 BGN. The platform offers financing to consumption purposes but overall the loan originator MyCredit only provide unsecured loans up to 5 000 BGN and loans secured by collateral up to 200 000 BGN. Cashlend was founded in 2016 by Венелин Тодоров (Venelin Todorov) as a Bulgarian company. The office and company is located in Sofia, Bulgaria and exclusively offers financing to Bulgarian residents. All loans are in Bulgarian Lev(BGN).

Any person of at least 18 years old that is a resident of Bulgaria can invest on Cashlend.

No one can borrow directly on Cashlend, to have a loan on Cashlend the borrower would have to had borrowed from a loan originator that the platform is collaborating with. The only partner at the moment named MyCredit is offering loans online to Bulgarian citizens on MyCredit.bg and in person at their office in Sofia.

Taxation on Peer-to-Peer Lending in Bulgaria

The tax rate for Bulgarian on income from P2P loans is 10%. Non-Bulgarian citizens investing on Bulgarian peer-to-peer lending platforms must pay tax according to their local tax.  

To get a more in-depth overview of the Bulgarian tax system for both companies and individuals, we can recommend this overview made by PwC.

Keep in mind that this should not be considered tax advice and can be outdated, why you should always contact a tax adviser when handling your taxes.

Regulation on Peer-to-Peer Lending and Crowdfunding in Bulgaria

There is no specific law regulating P2P lending in Bulgaria, but you can read more about the laws guiding different types of crowdfunding in this factsheet made by the European Crowdfunding Network.

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