PLN 600 million in support loans to be made available for Małopolska start ups

On Monday Małopolska voivodeship signed an agreement with the National Economic Bank (BGK), which will allocate PLN 600 million to investments and business development. The money will come from the 2014 to 2020 framework for EU funds, with the first loan being granted in the second half of 2017. The Marshall of the Voivodeship, Jacek Krupa, said the BGK agreement has a strategic importance for the region. “We have been trying for many years [to get an] experienced and professional partner, which is for us a guarantee [of] the best possible use of the money for the benefit of Małopolska,” Krupa said in a statement. The Marshall added that the funding would allow for the introduction of new forms of support, such as loans for Małopolska companies, local governments, communities and unemployed or housing. Specific types of support loans include those to unemployed persons 30 years or older, who will be able to borrow up to PLN 70,000 to start their own business. Regeneration projects will be granted loans varying between PLN 300,000 and PLN 15 million. Additionally, up to PLN 10 million will be made available for loans need to modernize buildings, including updates to heating systems. According to the report, such EU loans for the regions have so far benefitted up to 30,000 entrepreneurs in Poland.