Since the beginning of the COVID – 19 pandemic, Bank Gospodarstwa Krajowego has provided support to Polish entrepreneurs 100,000 times, and the scale of this aid amounts to over 72 billion PLN (approx. over 15 billion EUR).
The goal of Bank Gospodarstwa Krajowego is to support the socio-economic development of the country and it became even more important during the crisis. In the implementation of that support speed and efficiency of operation, close cooperation with the entire banking sector, as well as listening to the needs reported by entrepreneurs, e.g. problems with maintaining financial liquidity, and then offering specific support are extremely important.
BGK adjusts its programs to the ever-changing situation. In 2020 the bank offered all entrepreneurs, regardless of their size or industry, a dozen of the aid program.
Thanks to guarantees, BGK significantly increases entrepreneurs’ chances of obtaining a loan, supports their development, and strengthens their competitiveness on the market. In terms of the secured loan amount, de minimis guarantees are the most popular support instrument for SMEs. The effectiveness of BGK’s activities is also confirmed by the studies of the Biznesmax guarantee, which clearly show that half of the companies that used loans with the Biznesmax guarantee maintained their financial liquidity and, thanks to them, avoided or limited layoffs.
The aid programs also include two completely new guarantee programs that required notification by the European Commission. The first is a liquidity guarantee program from the Liquidity Guarantee Fund for medium and large enterprises. The second is unique in the European Union factoring limit repayment guarantee program for all enterprises, regardless of their size.
“It is the cooperation with factoring companies that allowed us to develop another product, such as factoring guarantees – an extremely important instrument ensuring the liquidity of companies. The program developed together with factoring companies is very popular among entrepreneurs. Another solution is being prepared together with leasing companies ” said Beata Daszyńska-Muzyczka, President of the Management Board at Bank Gospodarstwa Krajowego.
Source: BGK’s Press Release from 19.04.2021