BGK granted PLN 55 bln ‘de minimis’ guarantees last year

Poland’s state-owned lender BGK has granted PLN 54.99 billion in guarantees for loans worth some PLN 97.94 billion issued to SMEs as of end-December under the state program of ‘de minimis’ credit guarantees, the bank said.

As many as 143,528 SMEs took loans under the program. Firms can take loans of up to PLN 3.5 million and BGK’s guarantees may constitute up to 60 percent of the loan value.

The program has been functioning since March 2013 and will expire in mid-2018.

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