Medium-sized companies received PLN 900 mln under Grants for working capital
18:33
Under the “Grants for working capital” program implemented by the Polish Agency for Enterprise Development (PARP), medium-sized companies received PLN 900 million in Q3 and Q4 2020, the agency said. The support coming from the EU Programs: Intelligent Development and Eastern Poland received than almost 4.5 thousand companies.
Thanks to the money transferred through PARP, the recession is shallowed and companies rebound faster. An evaluation study shows that companies will conduct investment activities 2 years earlier than they would without PARP’s intervention. This will enable companies to catch up with their growth trend as early as 2022, it stressed.
Details of the “Working Capital Grants” program were announced on June 8, 2020, and the call for applications for funding lasted from June 15, 2020, to July 31, 2021. The purpose of the call was to support the business retention of a medium-sized entrepreneur who, as a result of the COVID-19 pandemic, was in distress on the date of the assistance or had a decline in turnover of at least 30% in any month after February 1, 2020, compared to the previous month or the corresponding month of the previous year. The received funding could be used by the companies for operating costs and those related to financing working capital, i.e. paying utilities, renting space, purchasing goods, or insuring business operations.
