Access to finance
04 November 2009by Ina Dimireva -- last modified 05 November 2009
A system of guarantee funds and loan funds exists in Poland. The Polish Agency for Enterprise Development (PARP) also fulfills an important role implementing operational programmes and is an element of support for enterprises carrying out innovative ventures.
Polish Agency for Enterprise Development (PARP)
Loan funds provide loans intended for objectives connected with starting, conducting and developing business activity. The loans are aimed at micro and small enterprises, carrying out business activities in Poland that are at an early phase of development or in an expansion phase.
The loans provided have an interest rate lower than the reference rate set by the European Commission, published in the Official Journal of the European union on the day that the loan agreement is signed.
Loans are provided after carrying out a non-repayment risk analysis, and after establishing appropriate payment protection. The maximum loan value is 120 000 PLN.
Guarantee funds guarantee financial obligations for enterprises that possess creditworthiness but do not possess the security required by financial institutions. Guarantees provided to enterprises constitute from 50 to 80 percent of the credit or loan value.
Guarantees for the repayment of credits or loans are intended for micro, small and medium-size enterprises that have their registered offices in Poland.
Guarantees are provided for credits or loans that have interest rates not lower than the reference rate set by the European Commission, published in the Official Journal of the European Union.
Guarantees are provided after carrying out an analysis of the risk of the enterprise not fulfilling its financial obligations, and also for a fee that reflects the risk of the enterprise not fulfilling its financial obligations and administrative costs.
Guarantees are provided at an amount not exceeding 80% of the obligation, to which it refers.
National Credit Guarantee Fund
Resources
Enterprises applying for funds for projects as part of the implementation activities of the Polish Agency for Enterprise Development (PARP), which are financed from European Union structural funds and the state budget, submit appropriate applications for funding, which (in the competition procedure) are subject to formal and substantive evaluation.
As part of the Polish Agency for Enterprise Development (PARP), micro, small and medium-size enterprises can apply for investment loans that have an innovative character. The size of a loan cannot exceed 75% of the qualifying expenditure, or an amount of 2 million PLN.
Rules and procedures for granting innovation loans [PL]
The Polish Agency for Enterprise Development (PARP) also supports Loan Funds and Credit Guarantee Funds, which provide loans and guarantees to enterprises from the small and medium-size enterprise sector.
Companies from the small and medium-size enterprise sector can take advantage of seed capital funds, the establishment of which is supported by the Polish Agency for Enterprise Development (PARP).
An information point operates as part of the Polish Agency for Enterprise Development (PARP), where enterprises can find out about the options and methods of applying for subsidies.
Personalised help and advice
In the Finance ( Finanse ) section of the Services for Enterprises webpage of the Polish Chamber of Commerce, regional chambers of commerce offer information, training and advice regarding finance for companies. Their range of services includes preparing business plans, information about obtaining loans in a given region, and taking advantage of European Union structural funds.
The Enterprise Europe Network provides businesses with information and advice through its local partners.
Enterprise Europe Network – contact points – Poland
Source: European Commission
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