The extended validity period of the preferential conditions of the EU guarantees at BGK.
The preferential conditions for granting guarantees by BGK under the framework programs of the European Commission were extended till the end of June 2021.
Preferential conditions of the COSME guarantee – until 30th June 2021, the reduced commission for granting the COSME guarantee will continue to apply, i.e. 0.7% of the guarantee amount for working capital loans. Moreover, the maximum guarantee period for working capital loans granted in the period from 1st January 2021 to 30th June 2021 was extended to 39 months. The offer also includes guarantees for securing investment loans with a loan period of up to 8 years.
Creative Europe guarantees without commission – the offer of guarantees under the Creative Europe program is available to entrepreneurs from the cultural and creative sectors. At the beginning of the year, BGK withdrew from collecting the commission due for granting guarantees until 30th June 2020. The guarantees secure up to 80% of the loan amount in the maximum amount of PLN 8.4 million. Guarantees may be granted for a period of 99 months in the case of investment loans and 27 months in the case of working capital loans.
Guarantees from EU funds facilitate access to credit, which is especially important in order to counteract the negative effects of the economic crisis caused by the pandemic. Thanks to the guarantees, an entrepreneur who does not have a sufficient collateral to offer can obtain a bank loan.