Innovative entrepreneurs have received loans in the amount of PLN 457 m thanks to guarantees granted by Bank Gospodarstwa Krajowego
In the last year innovative entrepreneurs could receive free guarantees offered by BGK. More than PLN 250 m from the Guarantee Fund has enabled companies to raise financing from commercial banks in the amount of PLN 457 m. PLN 250 m funding came from the (untapped) funds from Innovative Economy Operational Programme
Thanks to the effective cooperation among BGK, commercial banks and Polish Bank Association these funds had been distributed to companies in just one year. The guarantees had been offered in 10 commercial and cooperatives banks and were available throughout the country.
Cooperation between BGK and lending banks under Guarantee Fund based on Innovative Economy Operational Programme confirmed that the guarantee is a very effective instrument which stimulates private capital to finance entrepreneurship. Moreover banks are effective operators utilizing EU funds dedicated to SMEs. It must be emphasized that the time for utilization of guarantees was limited, and in spite of that banking sector has done extremely well in executing the program.
Revolving nature of guarantee support enables multiple and effective utilization of the resources. In the near future BGK is planning to launch another Guarantee Fund for innovators – this time under Operational Program Smart Growth.