A LOAN WITHIN 15 MINUTES

The amount of loans provided by Moneta Money Bank for working capital financing of Express Business loans with COVID guarantees has already reached 1.045 billion crowns (appr. 40,8 mln EUR). The attractive interest rate largely contributes to this, which is guaranteed in the special campaign for the COVID III guarantee program with a maximum interest rate of 4.9% annually.

“We have been ready to help entrepreneurs and small businesses since the beginning of the pandemic. Interest in guarantee programs, which are being further extended in connection with the next pandemic wave, is still growing. Thanks to state support from the Czech-Moravian Guarantee and Development Bank (ČMZRB) and the Export Guarantee and Insurance Company (EGAP) and also thanks to European Investment Fund (EIF) guarantees, we can offer them easily accessible financing with a very low interest rate, “ said MONETA Money Bank’d CEO Tomáš Spurný.

For the self-employed and small business segment, MONETA is able to approve a loan within 15 minutes of delivery of all necessary documents.

MONETA HOLDS A 16% OF A MARKET SHARE IN LOANS

In the case of all COVID state guarantee programs provided by ČMZRB (Českomoravská záruční a rozvojová banka – Czech-Moravian Guarantee and Development Bank), MONETA successfully holds a market share of 16% in the number of provided loans and thus significantly exceeds the bank’s standard share in lending to the commercial segment. This is usually less than 6%.

“We are currently registering a total of 5,002 applications in the amount of 7.3 billion crowns for all warranty programs aimed at supporting companies in connection with the spread of coronavirus COVID-19. A total of 2,925 self-employed persons and companies have already started to draw their loans above CZK 4.8 billion“ says Petr Kábele, Senior Manager for Small Business MONETA Money Bank.

The greatest interest in guaranteed loans is among clients from the areas of wholesale and retail, manufacturing, construction, accommodation, catering, and hospitality.

GUARANTEED LOANS WITHIN COVID-19 PROGRAMS HAVE BEEN PROVIDED SINCE APRIL 2020

MONETA started providing guaranteed loans within the COVID programs at the beginning of April last year in close cooperation with the Czech-Moravian Guarantee and Development Bank. During August, the offer of financing for companies affected by COVID-19 was also expanded to include support for the COSME LGF program provided by the European Investment Fund. In November, MONETA prepared a unique business loan aimed purely at women entrepreneurs. For the development of their business, they can use financing with an attractive interest rate of 3.9% p.a. secured by a free guarantee from the European Investment Fund of up to 90%. The support was launched thanks to cooperation with the European Investment Fund under the EaSI Guarantee Program for Employment and Social Innovation.

Source: Bank’s press release from 6.01.2021

Additionally on the topic:

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