BGK grants PLN 25 bln 'de minimis' guarantees

Poland's state-owned lender BGK granted PLN 25 bln guarantees for loans worth some PLN 45.5 bln issued to SMEs as of end-December under the state program of 'de minimis' credit guarantees, the bank said. As many as 101,000 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.