BGK grants PLN 26.7 bln in 'de minimis' guarantees

Poland's state-owned lender BGK has granted PLN 26.7 bln in guarantees for loans worth some PLN 47.3 bln issued to SMEs as of end-February under the state program of 'de minimis' credit guarantees, the bank said. As many as 102,850 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.