Loan with de minimis guarantee

Service Business

Out of all the available forms of financing, entrepreneurs still most often and most willingly reach for a loan. Currently, obtaining money from a bank is easier and often also cheaper, because companies can apply for working capital loans secured with a de minimis guarantee. This product is the result of an agreement between Bank Gospodarstwa Krajowego and commercial banks, intended for micro, small and medium-sized enterprises.

What help can entrepreneurs count on?

The de minimis guarantee is a combination of two products - on the one hand, a financial instrument securing the repayment of the loan, and on the other - state aid under de minimis support. In this case, BGK, as the guarantor, takes responsibility for the repayment of the entrepreneur's liabilities in a situation where the entrepreneur loses financial capacity or struggles with various types of problems. Such security applies to 60 percent. loan, up to PLN 3.5 million for 27 months.

It is worth taking an interest in this product now, because with loans taken until the end of 2013, the entrepreneur will not incur any costs related to the de minimis guarantee during the first loan period. For the next annual period, the commission fee is 0.5 percent. annually.

Loans with a de minimis guarantee are an ideal solution for companies that are struggling with various financial problems and under "normal" conditions would not have a chance to obtain funding. Currently, this type of product is offered by 20 commercial banks: PKO Bank Polski, BRE Bank, ING Bank Śląski, Grupa BPS, Spółdzielcza Grupa Bankowa, BOŚ Bank, Raiffeisen Bank Polska, Getin Noble Bank, Idea Bank, Toyota Bank Polska, Bank Zachodni WBK, Krakowski Bank Spółdzielczy, Alior Bank, Bank Pekao, Bank Handlowy, Bank Millenium, Bank BGŻ, Invest-Bank, FM Bank, Deutsche Bank PBC.

What requirement must the entrepreneur meet?

The basic condition is that the entrepreneur applying for a loan with the de minimis guarantee has creditworthiness. When it comes to the minimum period of running a business - each commercial bank individually determines whether only companies with a specific seniority, or also those that are just starting their activity, can apply for a loan secured by a de minimis guarantee. Many banks require a minimum period of 12 months on the market, in other institutions it is even 24 months.

Fortunately for beginner entrepreneurs, there are also banks that do not have requirements for the minimum period of business, which means that new companies can also apply for a loan with a de minimis guarantee.

As already mentioned, this form of co-financing is intended only for micro, small and medium-sized enterprises. Moreover, companies that have exhausted the limit of de minimis aid are excluded from BGK support. Currently, it is, in principle, 200 thousand. euro in the three previous years. This means that if the company used during the above-mentioned period from subsidies, reductions or tax exemptions granted as this type of support, it should check carefully whether it has not exceeded the said limit and whether it can still apply for the de minimis guarantee.

What documents should be prepared?

The procedure for applying for a loan with a de minimis guarantee is practically no different from applying for a regular loan. The entrepreneur completes all formalities at the crediting bank (he does not have to go to BGK or other additional institutions in person). It is necessary to submit a standard loan application and, additionally, an application for a de minimis guarantee.

In addition, the bank will ask for company registration documents (e.g. a printout from the Central Register and Information on Economic Activity, a certificate of granting a REGON number, NIP), financial documents (for a specific period of activity) and a statement (or official certificate) about non-arrears with payments to the Institute. Social Insurance and the tax office.

The business owner may also be asked to submit an asset declaration, tax return for the last full financial year or forecast of financial results for the loan period. In a situation where the de minimis guarantee for the bank is insufficient, and therefore additional security is required, the entrepreneur will also be asked for documents regarding such security.

As for the de minimis guarantee itself, in addition to the application for its granting, the company owner will also be required to submit information on the received - or not received - public aid (at the stage of applying for the guarantee), a promissory note with a promissory note declaration and a declaration of submission to enforcement and a declaration on the protection of personal data (after obtaining a guarantee).

How long does it take to get a loan with a de minimis guarantee?

The waiting period for a loan secured by a de minimis guarantee does not differ from the standard one, applicable to any other loan. To a large extent, it depends on whether the entrepreneur provides the bank with a complete set of the required documents and whether there are any objections to them.

Depending on the bank, the money may be on the trader's account within 24 hours or the longest after 21 days.

Finally, it is worth noting that the money from the loan covered by the guarantee can only be used for purposes related to the current operations of the company. Therefore, these funds may be allocated, inter alia, to for the payment of invoices for purchased goods and materials, settlement of liabilities towards the tax office or the Social Insurance Institution. It is worth remembering that the guarantee does not cover interest and other costs related to the loan. An additional cost for the entrepreneur is also the cost of maintaining an account with the crediting bank, which is required by banks granting loans with a guarantee.