Poland to extend the de minimis credit guarantee program

The Ministry of Finance wants to extend the de minimis credit-guarantee program until mid-2018. “The extension of the de minimis guarantee offer until 30 June 2018 will continue to make it easier for SMEs to get access to debt financing which in return will boost the economy,” the ministry said. The de minimis guarantee scheme originally designed as a temporary anti-crisis instrument has already been extended by further regulations, most recently by the end of 2017. Till end-September, state-owned lender BGK has granted PLN 41.57 billion in guarantees for loans worth some PLN 73.84 billion issued to SMEs. As many as 129,128 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.