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Authors: George L. Shahpazov 1 ; Lyubka A. Doukovska 1 and Krassimir T. Atanassov 2

Affiliations: 1 Bulgarian Academy of Sciences, Bulgaria ; 2 Institute of Biophysics and Biomedical Engineering, Bulgaria

ISBN: 978-989-8565-56-3

Keyword(s): Generalized Net Model, Small and Medium-Sized Enterprises (SMEs), Credit Risk, Creditworthiness.

Abstract: The launch of the new programming period of the EU in 2014 will lead to many changes in the way the EU budget is funded. The European Commission is considering various ways to generate their own income to make it more independent of the Member States. Unfortunately the consequences of the reforms might have negative influence to European and in particular to the Bulgarian economy and especially for SMEs. The effective results in these conditions are to ensure financial resources for SMEs beneficiaries - increasing the amount of advance payments, creating additional financial instruments. Prior to SMEs financing, a methodology for analysis of creditworthiness and credit risk assessment procedures are applied. The aim of the methodology is to contribute and establish an unified and systematic approach to analyzing and assessing credit risk, which is to lead to a more thorough and objective assessment of the credit and minimize the risk undertaken by the financial institution. The system of credit risk assessment is a collaboration of estimates of the specified indicators. The final conclusion of the process should result into a motivated standpoint, based on which, a decision on further conduct of the Bank towards the loan request will be made (guarantees and other commitments, bearing credit risk), along with periodic risk assessment procedure on already granted loans. In this paper is provided an analysis using the Generalized Nets. They are used as a tool for modelling of different processes in industries and medicine. In the present paper, an application of these nets apparatus for assistive technology and the advantages of using such model, for SMEs financial support mechanism are discussed. (More)

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Paper citation in several formats:
Shahpazov G.; Doukovska L.; T. Atanassov K. and (2013). Generalized Net Model of the Methodology for Analysis of the Creditworthiness and Evaluation of Credit Risk in SMEs Financing.In Proceedings of the Third International Symposium on Business Modeling and Software Design - Volume 1: BMSD, ISBN 978-989-8565-56-3, pages 292-297. DOI: 10.5220/0004776702920297

@conference{bmsd13,
author={George L. Shahpazov and Lyubka A. Doukovska and Krassimir {T. Atanassov}},
title={Generalized Net Model of the Methodology for Analysis of the Creditworthiness and Evaluation of Credit Risk in SMEs Financing},
booktitle={Proceedings of the Third International Symposium on Business Modeling and Software Design - Volume 1: BMSD,},
year={2013},
pages={292-297},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0004776702920297},
isbn={978-989-8565-56-3},
}

TY - CONF

JO - Proceedings of the Third International Symposium on Business Modeling and Software Design - Volume 1: BMSD,
TI - Generalized Net Model of the Methodology for Analysis of the Creditworthiness and Evaluation of Credit Risk in SMEs Financing
SN - 978-989-8565-56-3
AU - Shahpazov, G.
AU - Doukovska, L.
AU - T. Atanassov, K.
PY - 2013
SP - 292
EP - 297
DO - 10.5220/0004776702920297

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