Millennium Leasing is the second leasing company in Poland to have signed an agreement with Bank Gospodarstwa Krajowego (BGK) regarding the possibility of covering leasing agreements concluded with entrepreneurs from the SME sector with BGK guarantees. As a result, another important support is available for SMEs, and the availability of capital for enterprises and their investment opportunities increases.
„From the beginning of the pandemic, we have been supporting entrepreneurs. We are aware that some of them are in a difficult situation today. We believe it is our responsibility to ensure that customers have access to all supporting programs that have been launched. For this reason, we were the first on the market to conclude an agreement with ARP Leasing to support transport companies, and now – we are agreeing with Bank Gospodarstwa Krajowego, which will allow us to expand the availability of financing for our client’s investments or improve the attractiveness of the offer” – said Marcin Balicki, CEO at Millennium Leasing.
Thanks to the agreement concluded between Millennium Leasing and BGK, some entrepreneurs will be able to take advantage of financing on more favorable terms, including in terms of margin, amount of financing, duration of the agreement, or required security. It is worth noting that the BGK guarantee may cover up to 80% of the lease transaction, with a maximum financing period of 10 years.
EUROPEAN INVESTMENT FUND SUPPORT
Providing financing through leasing means taking advantage of the guarantee instrument – the Pan-European Guarantee Fund implemented by the European Investment Fund, with the financial support of the Member States contributing to the Pan-European Guarantee Fund.
The purpose of this fund is to protect the EU economy from the effects of the SARS-CoV-2 pandemic. The guarantee may secure leasing transactions granted by those lessors to whom the guarantee limit will be made available based on an agreement signed with BGK. At present, only two leasing companies, including Millennium Leasing, can offer support in access to financing through leasing with the possibility of using BGK guarantees.
Source: Millennium Bank’s Press Release from May 24, 2021