We present statutory solutions which aim at maintaining the business capacity of entrepreneurs, weakening the economic impact of pandemics, and maintaining financial liquidity in particular of micro, small and medium-sized enterprises, which are mainly exposed to partial or complete suspension of their activities.
Loans to micro-entrepreneurs
one from the proposal it is possible to apply for a loan financed by the Labour Fund, up to the maximum 5,000 PLN, on preferential terms.
The preferential terms understand the amount of interest that will develop at the level of 0.05 rediscount rates accepted by the National Bank of Poland. It should be stressed that the obligation to repay the loan will occur after the expiry of the three-month grace period, with the granting of the loan taking place for a period not longer than 12 months. Moreover, in justified cases, that period may be extended.
first from the conditions for applying for that loan is the obligation to have the status of micro-entrepreneur. This status may be held by an entrepreneur who at least one year two the last financial year has met the following cumulative conditions:
• employed less than 10 employees and
- has achieved a net annual turnover of goods, goods and services and financial operations not exceeding the equivalent in 2,000,000 EUR, or the sum of the assets of its balance sheet at the end one of these years did not exceed the equivalent in gold 2,000,000 EUR.
A loan to micro-entrepreneurs shall be granted only at the request of the person concerned to the county office of employment competent for the place of business. In this application, a micro-entrepreneur is required to demonstrate the employment status at the date 29 February 2020 on a full-time basis.
Another condition allowing to receive a loan of up to 5,000 PLN is the obligation for a micro-entrepreneur to conduct business before the day 1 March 2020 Thus, entrepreneurs who have started their business after the specified deadline are automatically excluded from the possibility of obtaining a loan to cover the current costs of running it.
If any of the above conditions are fulfilled, the loan shall be eligible and, furthermore, the employment shall be maintained for a period of time. three months on a full-time basis in relation to employment per day 29 February 2020 and making an appropriate request, the loan will be decommissioned, including interest.
Provision of guarantees and guarantees by Bank Gospodarstwa Krajowego
As part of the support package for medium-sized and large enterprises, changes were made to the granting of guarantees and guarantees for loans drawn up under the Act dated 8 May 1997 guarantees and guarantees provided by the Treasury and certain legal persons.
It should be specified that the medium-sized entrepreneur will be the entrepreneur who at least one year two the last financial year has met the following cumulative conditions:
• employed less than 250 employees and
- has achieved a net annual turnover of goods, goods and services and financial operations not exceeding the equivalent in 50,000,000 EUR, or the sum of the assets of its balance sheet at the end one of these years did not exceed the equivalent in gold 43,000,000 EUR.
The same big entrepreneur will be:
- • employing average annual over 250 employees and
- • having a net annual turnover of goods, goods, services and financial operations exceeding the equivalent in 50,000,000 EUR or the sum of the assets of its balance sheet at the end one of those years exceeding the equivalent in gold 43,000,000 EUR.
The fundamental change in the provision of guarantees and guarantees by Bank Gospodarstwa Krajowego is the provision of a guarantee or guarantee of no more than 80% the outstanding amount of the loan, which represents an increase in the aid by 20% compared to the current regulation resulting from Article 3 Guarantees and Guarantees by the Treasury and certain legal persons.
The guarantees and guarantees granted may take the form of State aid, which does not alter the fact that they are timely and granted up to an amount in advance. As in the case of loans granted to micro-entrepreneurs, the possibility of obtaining guarantees and guarantees by medium-sized and large entrepreneurs is only made following a request.
In order to finance the activities of Bank Gospodarstwa Krajowego as regards the granting of guarantees and guarantees, a Liquidity Guarantee Fund was set up to cover the costs and expenses associated with the granting of guarantees and guarantees on the repayment of loans made by medium and large entrepreneurs, including payments for these guarantees and guarantees.
It should also be stressed that a similar solution has been proposed in relation to micro- and small entrepreneurs, on the basis of changes made in the Regulation of the Minister of Finance on the granting of de minimis aid by the Bank of Gospodarstwa Krajowego in the form of guarantees of repayment of loans, which entered into force on the day 17 March 2020
On the basis of the changes made to the above, aid will be granted to entrepreneurs, so-called ‘de minimis’ aid, the total value of which is granted one the entrepreneur must not exceed this year; and two previous tax years the equivalent of the amounts determined under Article 3(2) EU Commission Regulations dated 18 December 2013 on the application Article 107(108) Treaty on the Functioning of the European Union to de minimis aid i.e. quotas 200,000 EUR be 100,000 EUR in the case of undertakings engaged in commercial transport of goods by road.
Moreover, the guarantees granted to large and medium-sized enterprises will cover no more than 80% the amount of the loan and the possibility to obtain it will only be made on the basis of a request made to the creditor bank.
The notified application shall be accompanied by a certificate or declaration of de minimis aid previously maintained in the current year and in the two previous years, be a statement of not receiving it.
Change in loan financing conditions
A solution has been introduced for micro, small and medium-sized enterprises to maintain the current financing capacity of their activities, which is the result of a pre-earned loan or loan.
The crisis shield granted the banks the power to modify financing conditions in the form of, inter alia, the possibility of renewal, renewal, maintenance of working loans/loans.
These powers are flexible and give banks some flexibility in shaping arrangements between the bank and the borrower (the banks can regulate the financing conditions regardless of the regulatory requirements of banking law).
However, it should be stressed that the uncontested issue and the most important issue is the obligation to shape financing conditions which will not cause both the financial and economic situation of the borrower/borrower.
However, in order for the borrower to benefit from the change and the determination of individual financing conditions, it is necessary to fulfil several essential conditions.
first from the conditions is the obligation to have the status of micro-, small or medium-sized entrepreneurs, thus the highest entities will not be able to benefit from the preferences.
Another condition for the application of the preferences is that the requirement that the loan to be amended or modified has been granted before the date 8 March 2020, i.e. before the date of entry into force of the Act on Special Solutions for Prevention, Prevention and Control COVID-19, other infectious diseases and their emergency situations.
Moreover, in order to change the financing conditions of the loan, it must be based on an assessment of the financial and economic situation of the borrower/borrower which was made by the bank not earlier than on the date 30 September 2019