BGK grants PLN 43.17 bln ‘de minimis’ guarantees

Poland's state-owned lender BGK has granted PLN 43.17 billion in guarantees for loans worth some PLN 76.7 billion issued to SMEs as of end-October under the state program of 'de minimis' credit guarantees, the bank said. As many as 130,620 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 will expire in mid-2018.