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The Warsaw Voice » Business » August 14, 2017
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Over 40 billion for "de minimis" program
August 14, 2017   
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Poland's state bank BGK has granted PLN 41 billion guarantees for PLN 72.7 billion worth of loans issued to SMEs by end-July under the state program of 'de minimis' credit guarantees, BGK bank data show.
Some 128.300 SMEs took loans within the frame of the scheme in the period, 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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