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The Warsaw Voice » Business » July 18, 2016
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Poland grants over PLN 30bn guarantees in 'de minimis' credit guarantee program
July 18, 2016   
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Poland's state bank BGK has granted over PLN 30.08 billion guarantees for some PLN 53.45 billion worth of loans issued to SMEs as of end-June under the state program of 'de minimis' credit guarantees, BGK bank data show.

Some 109,700 SMEs have taken loans within the frame of the 'de minimis' program by end-June, the statement showed.

The 'de minimis' program is aimed at providing co-guarantees for loans for SMEs, taking some of the risk burden away from the commercial banks. Commercial banks may grant loans of up to PLN 3.5 million per firm, with state guarantees encompassing up to 60% of the loan value.

The program has been functioning since March 2013, covering investment loans since November 2013.

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