BGK granted PLN 19.22 bln credit guarantess to SMEs
15:12
State-owned lender BGK has granted PLN 19.22 bln guarantees for some PLN 34.2 bln worth of loans issued to SMEs under the state program of 'de minimis' credit guarantees as of end-April, BGK bank data show.
Some 84k SMEs have taken loans within the frame of the 'de minimis' program by end-April, 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 mln per firm, with state guarantees encompassing up to 60% of the loan value. The program has been functioning since March 2013 and it expires at end-2015.
