BGK grants PLN 23.4 bln 'de minimis' guarantees

Poland's state-owned lender BGK granted PLN 23.4 bln guarantees for some PLN 41.6 bln worth of loans issued to SMEs as of end-September under the state program of 'de minimis' credit guarantees, the Polish Press Agency (PAP) said. As many as 95,700 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 it expires at end of 2015.