PFR Financial Shield - who can submit an application and from when?


The resolutions related to the Financial Shield 2.0 PFR for micro, small and medium-sized enterprises and the amendment to the Financial Shield 1.0 PFR have been adopted by the government! Therefore, from January 15, entrepreneurs will be able to apply for benefits from the PFR Financial Shield. Which activities will be able to apply for the aid, what is the purpose of the allocated funds and what conditions will the applicants have to meet? We will answer these and other questions in the article.

PFR Financial Shield - description of the aid

The task of the funds from the PFR Financial Shield is to prevent bankruptcy of companies, and thus - to counteract the increase in unemployment in the country. According to the findings of the Polish Development Fund (PFR) from Shield 2.0, up to 70,000 enterprises will receive aid for micro, small and medium-sized businesses that suffered the greatest losses in the autumn. The Government Information Center announced that the budget earmarked for support is projected at PLN 13 billion.

The aid scheme includes, among others:

  • Financial Shield 2.0 of the Polish Development Fund for micro-enterprises - PLN 6.5 billion;
  • Financial Shield 2.0 of the Polish Development Fund for small and medium-sized enterprises - PLN 6.5 billion.

PFR Financial Shield - who is entitled to?

Not every entrepreneur will be able to take advantage of the aid described above - in particular, the self-employed will be excluded from it. The funds will be granted on the basis of the PKD code of a given economic activity as of December 31, 2019, November 1, 2020 and as at the date of submitting the application, in order to check how many PKD codes are included in the unit receiving losses. List of 45 PKD codes that may apply for subsidies as of January 5, 2021:

  • 17.29.Z - Manufacture of other products made of paper and cardboard;

  • 18.12.Z - Other printing;

  • 18.13.Z - Service activities related to preparation for printing;

  • 18.14.Z - Bookbinding and similar services;

  • 49.39.Z - Other passenger land transport not elsewhere classified;

  • 47.71.Z - Retail sale of clothing in specialized stores;

  • 47.76.Z - Retail sale of flowers, plants, seeds, fertilizers, pet animals and pet food in specialized stores;

  • 47.81.Z - Retail sale of food, beverages and tobacco products conducted at stalls and markets;

  • 47.82.Z - Retail sale of textiles, clothing and footwear at stalls and markets;

  • 47.89.Z - Retail sale of other products at stalls and markets;

  • 56.21.Z - Preparing and delivering food to external recipients (catering);

  • 55.10.Z - Hotels and similar accommodation;

  • 55.20.Z - Tourist accommodation facilities and short-term accommodation facilities;

  • 56.10.A - Restaurants and other permanent catering establishments;

  • 56.10.B - Mobile catering establishments;

  • 56.29.Z - Other catering service activities;

  • 56.30.Z - Preparing and serving beverages;

  • 59.14.Z - Activities related to film screening;

  • 73.11.Z - Activities of advertising agencies;

  • 74.20.Z - Photography activities;

  • 77.21.Z - Renting and leasing of recreational and sports equipment;

  • 79.11.A - Activities of travel agents;

  • 79.12.Z - Activities of tourism organizers;

  • 79.11.B - Activities of travel agents;

  • 79.90.A - Activities of tour leaders and tourist guides;

  • 79.90.B - Activities in the field of tourist information;

  • 79.90.C - Other booking service activities, not elsewhere classified;

  • 82.30.Z - Activities related to the organization of fairs, exhibitions and congresses;

  • 85.51.Z - Extracurricular forms of sports education as well as sports and recreational activities;

  • 85.52.Z - Extra-curricular forms of artistic education;

  • 85.59.B - Other extracurricular forms of education, not elsewhere classified;

  • 86.90.A - Physiotherapeutic activities;

  • 86.90.D - Paramedical activities;

  • 90.01.Z - Activities related to staging artistic performances - music group;

  • 90.02.Z - Activities supporting the staging of artistic performances;

  • 90.04.Z - Activities of cultural facilities;

  • 91.02.Z - Activities of museums;

  • 93.11.Z - Activities of sports facilities;

  • 93.13.Z - Activities of facilities to improve physical condition;

  • 93.19.Z - Other activities related to sport;

  • 93.21.Z - Activities of amusement parks and amusement parks.

PFR Financial Shield - general conditions that must be met

The conditions that must be met in order to receive funds from the PFR Financial Shield vary depending on the size of the company and the losses incurred. The aid will be granted to those companies that employed workers. The required criterion is employment of employees as of December 31, 2019, and in the case of its absence - employment of at least 1 employee as of July 31, 2020.

More specifically, the employee must have an employment contract - excluding those who are on maternity, paternity, parental and parental leave and participating in professional training.

Definition of an employee based on the PFR Financial Shield:

  • a person who, in accordance with Polish law, remains in an employment relationship and was reported for social security contributions as at the date of verification of the employment status of the enterprise, in order to determine the maximum amount of financial subsidy that an entrepreneur may apply for - taking into account that the employment status is converted into full-time work;
  • a person cooperating with the entrepreneur, regardless of the legal form of this relationship (mainly based on civil law contracts, i.e. contract for specific work and mandate), for whom social security contributions were paid as at the date of the employment census in order to obtain a subsidy.

PFR Financial Shield - how much is the support?

Support for entrepreneurs who previously benefited from Financial Shield 1.0, for a total of one employee from both shields, may amount to a maximum of PLN 72,000 for micro-enterprises and PLN 144,000 for small and medium-sized enterprises.

Micro, small, medium and large companies can benefit from the assistance.

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PFR Financial Shield - conditions for granting aid depending on the size of the company


These companies will receive financial aid if:

  • employ 1-9 employees from the above-mentioned 45 of the PKD industry in Poland;
  • the turnover or balance sheet total amount is a maximum of EUR 2 million;
  • achieved a decrease in turnover by at least 30% due to the COVID-19 epidemic in the period IV-XII or in the fourth quarter of 2020, compared to the same periods of the previous year.

The amount of aid from the shield will be affected by the decrease in turnover and the number of employees. Funds obtained from the subsidy will be non-returnable, provided that employment is maintained and the activity does not cease to exist for a minimum of 12 months from receiving the aid. The application will be available in electronic banking at 18 banks. The maximum amount of aid for this type of company is PLN 324,000. Depending on the size of the decrease in revenues, the amount of the subsidy is:

  • 18,000 per 1 employee with a drop in revenues of 30–60%;

  • 36,000 per 1 employee with a decrease in revenues of over 60%.

Small and medium-sized companies

Such companies will receive assistance from the shield if:

  • employ up to 249 employees from among 45 PKD industries;
  • their maximum turnover is EUR 50 million, and the balance sheet total does not exceed EUR 43 million;
  • can show a minimum 30% drop in turnover due to COVID-19.

Small and medium-sized enterprises will be able to obtain funding for fixed costs not covered by revenues in the form of a subsidy amounting to 70% of the gross loss based on the period from November 1, 2020 to April 30, 2021. The maximum aid from the shield is PLN 3.5 million, depending on the gross loss and forecast revenues and costs. Funds will be non-returnable only in the case of continuous operation and in the case of financing a loss of 70% gross.

Big companies

The aid applies to companies with a turnover of over EUR 50 million and with over 250 employees. It consists in using the new version of the loan, which will remain available until March 31, 2021.

PFR Financial Shield - conditions for the redemption of subsidies

It is possible to redeem the subsidy if the applicant meets the required conditions. A possible return of a part or its total amount may take place after October 31, 2021. The Polish Development Fund has the exclusive right to establish in the regulations certain rules for the return of financial aid and determine the cases in which redemption is possible.