BGK grants PLN 37.26 bln ‘de minimis’ guarantees

Poland's state-owned lender BGK has granted PLN 37.26 billion in guarantees for loans worth some PLN 6.61 trillion issued to SMEs as of end-March under the state program of 'de minimis' credit guarantees, the bank said. As many as 123,058 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.