The new COVID III – Invest program, which Česká spořitelna is preparing together with ČMZRB and other banks in the Czech Republic, will enable entrepreneurs and enterprises with a maximum of 500 employees whose economic activities have been affected by the pandemic to receive investment loans of up to CZK 90 million (approx. 3 549 465 EUR). ČMZRB will provide a guarantee of up to 90% of the loan principal. The guarantee will be valid for six years, but the total maturity of the loan can be longer.
Although the detailed parameters of the COVID III – Invest program will be announced by ČMZRB in the coming days, Česká spořitelna is already in contact with entrepreneurs that have expressed support for their investment programs.
“With the gradual abolition of quarantine measures, the Czech economy is beginning to recover very quickly. We believe that state-guaranteed investment loans will help entrepreneurs to restart and develop their business and will lead to the resumption of growth” said Petr Vostrý, Head of the Corporate Engagement Tribe at Česká spořitelna.
Entrepreneurs will be able to apply for loans under the COVID III – Invest program until 31 December 2021. The Government of the Czech Republic will also extend the classic form of the COVID III program, which helps entrepreneurs cover their working capital financing, by the end of this year. In addition, customers will now be able to receive working capital and investment loans under both programs and at more banks.
Source: Bank’s press release from June 07, 2021