Many businesses are facing an unprecedented challenge - how to ensure business continuity and finance working capital requirements during the pandemic.  In addition to such reliefs as suspension of loan principal instalments, Santander Bank Polska offers its business clients also BGK de minimis guarantees which now cover 80% of the loan and in case of W/C loans can be granted for as long as 39 months. 

Warsaw, 03 April 2020
The SME customers of Santander Bank Polska can take out loans with de minimis guarantee under which BGK secures the repayment. Recently, to mitigate the negative impact of the pandemic on the economy, Bank Gospodarstwa Krajowego increased the guarantee cover to 80%, extended the guarantee term for working capital loans to 39 months (previously 27 months) and waived the guarantee fee. The new solution will remain in force by 32 December 2020. 

The advantage of the loan with de minimis guarantee for SMEs is no need to encumber their own assets to secure the loan repayment. The BGK guarantee is secured with a blank promissory note with a promissory note declaration. 

In Santander Bank Polska, de minimis guarantee can secure a working capital loan, including overdraft (Biznes Ekspres or Biznes Ekspres EBI) and investment loan in PLN. BGK grants the guarantees for 39 months for W/C loans or for up to 99 months for secure investment loans.

Moreover, in February this year, Santander Bank Polska was awarded by Bank Gospodarstwa Krajowego for the highest sales of the loan with Biznesmax guarantee, securing businesses developing innovative or eco-friendly projects. The Bank sale accounted for over 45% of  that loan total sale in the market. The Businessmax guarantee has been free-of-charge from the very start and the additional advantage is that BGK refunds the interest paid by the borrower in 3 years, the subsidy is made from the funds of the Smart Growth Operational Programme.