Poland to extend SME loan guarantee program
May 14, 2014
The Polish government wants to prolong the 'de minimis' SME loan guarantee program executed by state bank BGK to end-2015, both for working capital and investment loans, a draft resolution prepared by the Finance Ministry showed.
The program is currently set to expire at end-June 2014.
The ministry envisages that some PLN 8.5 billion in guarantees will be extended in 2014 and PLN 6 billion in 2015, the draft shows.
From March 15, 2013 to March 15, 2014, i.e. in the first year of the 'de minimis' program, BGK extended guarantees worth PLN 8.4 billion to 45,000 enterprises, which enabled them to take on PLN 15 billion worth of loans. Since November 2013 the guarantees have also pertained to investment loans.