Credit is a strategy for the future

Silviya Tomova is an entrepreneur and credit consultant with over 20 years of experience in the field of banking and credit intermediation. She is the founder and manager of Privilege Consulting Services – a boutique consulting company specializing in credit intermediation for individuals and legal entities. She has a Master's degree in Banking and Management.

Her company is a licensed credit intermediary, a member of the Association of Credit Intermediaries in Bulgaria and a partner of the leading banks on the Bulgarian market.

Privilege Consulting Services offers an individual consulting approach based on an analysis of the client's financial situation, future plans and the current market environment. The company's mission is to help clients make informed financial decisions and build long-term financial stability.

Ms. Tomova, euros in the wallet, loans on the table – many Bulgarians still wonder whether the new currency has made their lives easier or more complicated. In your view, what are the changes that people are already feeling, or ignoring, after our entry in the Eurozone?

The introduction of the euro is one of the most significant economic changes for Bulgaria in recent decades. In daily life, people are first feeling the short-term effects - changes in prices, new payment methods, different types of savings. But the real change is deeper. The euro brings higher financial integration with Europe, lower transaction costs and a more stable banking system. This affects not only daily payments, but also the investment environment, access to financing and the way banks structure their products.

One aspect that people often do not notice is the cost of capital. Entering the eurozone reduces investment risk and gradually leads to better financing conditions.

In the world of money, trust is the most important currency. How do you build and maintain that trust with your clients, especially when it comes to decisions that will define their lives for years to come?

Financial decisions are among the most important in life – a mortgage can commit a person for 20 or 30 years.

That is why trust between a client and their consultant is essential. I believe this trust is built on three principles: transparency, expertise and responsibility. We analyze the client’s plans, income and risks so that they can make an informed decision. A good credit consultant does not just sell a loan – he aims to protect the client’s interest.

How has the introduction of the euro affected mortgage and consumer loans so far? Are there any tangible changes in people’s interest, but also in their access to loans?

The introduction of the euro has brought a more predictable financial environment that has stimulated the credit market. We observe two main trends: first, interest in mortgage loans remains high, especially among young families. Secondly, banks are becoming more competitive and offering increasingly flexible credit products.

Why should we use the services of a credit consultant when we need a loan?

The credit market is complex and dynamic. Each bank has its own credit policy, different requirements and different conditions. The credit consultant has the role of analyzing the entire market and finding the most suitable solution for the client. In addition, he saves time and effort and reduces the risk of financial mistakes.

What are the most common mistakes that clients make when applying for a loan on their own?

Clients most often make three mistakes:

1. Focusing exclusively on the interest rate, without taking into account the entire cost of the loan.
2. Unrealistic assessment of their personal budget.
3. Lack of a long-term financial strategy.

How do you see the development of mortgage and consumer loans in Bulgaria over the next 2-3 years, especially considering that clients are very sensitive to changes in interest rates?

I expect the credit market to remain active, with moderate fluctuations in interest rates, depending on the economic situation in Europe.

Interest in housing loans will remain high - more and more families are looking to acquire their own home, and real estate continues to be a preferred type of investment. For those looking for predictability, banks offer fixed interest rates for up to 5 years.

In which sectors of the economy (housing construction, business investments and others) do you expect to see the strongest growth in loan demand?

The expected growth will come from housing construction, small and medium-sized businesses, green energy and technology companies – the sectors that will drive the economy over the next decade.

Have you noticed any interest from Bulgarian clients to invest in real estate or business projects outside Bulgaria?

Bulgarians’ interest in investing in other European countries is growing. The euro facilitates cross-border investments, reduces currency risk and makes the process more accessible and predictable.

When is a loan a good decision and when – an unwise move? Regardless of the seemingly favorable conditions.

A loan is a good solution when it is part of a clear financial strategy and supports important life or investment goals – buying a home, developing a business, education or a long-term investment that increases the financial stability of the family. Unwise credit taking, on the other hand, is impulsive – driven by a momentary need or desire for a higher standard of living, without a real assessment of future commitments. Often people focus only on the interest rate and ignore the total cost, the flexibility of the terms and potential risks.

In my practice, I have encountered cases when a credit may have seemed “profitable” at first glance, but was not in line with the client’s real financial profile. That is why I believe that sustainable credit is the credit that remains manageable even when a person’s income, the economic environment or interest rates change.

My philosophy is simple: “The best financial decision is the informed decision.”

What motivated you to become a credit intermediary and develop a company providing this service?

Credit is not just a financial instrument – it shapes a person’s future. My motivation came from observing how often people make important financial decisions without having sufficient information or professional support. Financing is key element in life – for buying a home, developing a business or an important personal investment.

The creation of Privilege Consulting Services was a natural step to begin offering professional, independent and transparent advice. The greatest satisfaction comes when clients receive not just a loan, but a sustainable solution that works for them for years to come.

What do the numbers say about the experience and practice accumulated over the years by Privilege Consulting Services? In other words, could you share some important facts about Privilege Consulting Services, described in the language of numbers?

The numbers speak for themselves. Over the years, we have consulted over 1000 clients and have assisted in the implementation of a significant volume of credit transactions – from housing loans to business projects. Behind these numbers there are real stories and carefully analyzed financial decisions. Experience allows us to understand banking products, lending processes and client expectations. This is the basis for long-term relationships and trust.

How do you balance professional challenges with your personal life? Do you have a hobby that allows you to recharge your batteries?

Finance is a dynamic field that requires concentration and responsibility. That is why it is important to find time for balance and to restore energy.

For me, the best way to recharge is when I’m with my family or practicing sports and activities in nature. These moments help me to distance myself from everyday life and return to work with a new perspective on things.

In this issue of Economy magazine women have a special focus. How does a female perspective inform your profession and have you encountered any challenges specifically as a female expert?

The financial sector is traditionally perceived as conservative and sometimes dominated by men. In recent years, women have successfully occupied leadership and expert positions. A female perspective brings a strong focus on detail, empathy and building trust - especially important because financial decisions often affect personal and family life. There are challenges, but competence, perseverance and professionalism can determine success.

How do you define success and what are the leadership skills and lessons that have shaped you?

Success is not a one-off achievement, but a process of sustainable development. True success is measured by having customer trust, company stability, and decisions that create long-term value. The most important leadership lessons for me are consistency, listening skills, and the ability to make decisions in complex situations.

Is there a truth about money, or about credit, that has crystallized in your practice through the years?

The financial decisions we make today determine the quality of our lives tomorrow. Credit can be a powerful tool for development – but only when chosen wisely, strategically, and with a clear vision for the future.