Mortgage credits for the purchase of lodgings will be granted by Bulgarian-American Credit Bank JSC (BACB), said its Executive Director Mr. Frank Bower. The preparation for granting these credits has already been completed. USD 17 million is the capital of BACB - it corresponds the requirements of BNB. The bank ended 1997 with a negative financial result because of the big initial expenses, said Mr. Bower.
Source: Pari (18.05.1998)

For a period of 5 years Bulgarian-American Investment Fund has invested over USD 4 million in nearly 70 private hotels, Mrs. Anelia Dimitrova, investment expert in the fund, reported. According to the funds programme, loans are granted for construction, reconstruction and privatization of hotels at the Black Sea coast.
Source: Pari (17.07.1998)

Whitebeam Holdings Limited - Malta became an owner of 51 per cent of "Orgachim" JSC (Rousse) for the amount of USD 8.9 million after signed a privatization contract with Privatization Agency. The shareholders of the buyer are "Bulgarian-American Investment Fund" (USA), "Rumanian-American Investment Fund" (USA), "Rumanian Investment Fund" (Cyprus) and "Policolor" JSC (Rumania). According to the privatization contract the buyer must pay the total price up to 20 working days and to invest in the company USD 5.04 million within 3 years.
Source: Pari (31.07.1998)