Loan Guarantees for Small
and Medium Enterprises
POLFUND Loan Guarantee Fund
Polish Entrepreneurs Foundation and Bank Zachodni WBK SA established (september
2001r.) POLFUND Loan Guarantee Fund to support SMEs which
demonstrate credit worthiness, but cannot offer sufficient loan security
. The key objective of the Fund is to grant guarantees to enable small
and medium enterprises to take loans with a Bank.
Profile
POLFUND offers guarantees to companies which apply for loan to the Bank,
but haven't got sufficient collateral. To obtain a loan secured, among
other things, by POLFUND guarantee SME has to demonstrate its credit worthiness
to the Bank.
- The guarantee can cover all types of loan facilities offered in Polish
zloties by Bank.
- The maximum guarantee level is 70 % of the loan applied for. The guarantee
does not cover loan interest or commissions.
- The minimum guarantee amount is PLN 10,000 and the maximum amount
is not more than 5% of the equity of the Fund.
- The guarantee validity may be up to 5 years.
- The principal security of the guarantee is a blank bill of exchange.
- POLFUND collects a single handling fee and an annual administration
fee
Criteria
Who can use the guarantee?
- Small and medium enterprises with employment of up to 250 at the maximum
- Operations of the enterprise must be governed by the Polish law (the
company has to be a resident as construed under foreign currency law).
- Companies with at least 3 month history of market operations with
a preference given to companies with the history of over 1 year.
- Companies with a good knowledge of the business and market needs,
and with a development-oriented operational strategy.
- Companies which can demonstrate their credit worthiness.
- The guarantees cannot be used by farming or arms businesses, or companies
which carry out environmentally harmful industrial operations.
- Companies fulfil the criteria "The Found Guarantee Policy"
Benefits
- Opportunity to get a loan even if the loan security offered by the
company is insufficient
- Low costs as compared to the cost of establishing other forms of loan
security.
Application Submission Procedure
To get detailed information and start the procedure please contact directly with POLFUND, please call (+48) 91 424 31 37
e-mail: polfund@polfund.com.pl |
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