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Additional payments to interest on working capital loans. Bank Millennium supports businesses affected by the pandemic

07.09.2020

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Bank Millennium has concluded an agreement with BGK, thanks to which businesses gained the opportunity to apply for additional payments to loan interest. This solution is available in Millennium to businesses served in the Corporate Banking segment, whose liquidity was affected during the pandemic and who were not in a difficult situation before it.

- We are taking many actions to support businesses in this difficult situation. The interest additional payments programme is another one of those provided by Bank Millennium, next to liquidity guarantees and de minimis guarantees, in which businesses affected by results of the pandemic get real support, this time in the form of additional payments to interest – Andrzej Gliński, Member of the Management Board of Bank Millennium, said.

In In Bank Millennium the programme is available to Corporate segment businesses. The amount of the additional payments to loan interest depends on the Customer’s size - SMEs (as defined in EU Commission Regulation 651/2014) get 2 pp, other businesses get 1pp. and it is provided during a maximum period of 12 months from the day of signing the contract.

The programme is available to customers who sign with the bank until the end of the year an agreement, which reflects statutory regulations (Act of 19 June 2020 on additional payments to the interest rate on bank loans granted to businesses affected by Covid-19 and on simplified procedure on approval of arrangement in relation to occurrence of COVID-19). The additional payments are granted for a period of 12 months from signing the contract and come from the Fund for Additional Payments to interest, operated by BGK and constitute state aid provided within the limit of EUR 800,000 per business.