PLN 250 million for innovation from BGK

Poland's state-owned lender BGK has granted credit guarantees worth PLN 250 million for small and medium sized companies under the EU Innovative Economy Program. "PLN 250 million allows us to grant loans worth PLN 416 million in total," a statement read. 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.