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Support from Bank Millennium for businesses - cooperation with BGK in guarantee programmes evolves

27.04.2020

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In order to support businesses in maintaining current liquidity, Bank Millennium signed an agreement with BGK, under which medium and large companies will be able to get support in the form of guarantees from Liquidity Guarantees Fund. Meanwhile SMEs are getting de minimis guarantees from the bank, under better terms than previously, in the assistance pack for small and medium businesses.

- We are taking many actions to support businesses in this generally very difficult situation. We have been cooperating with BGK for many years, offering solutions to businesses, which make their day-to-day operation easier. In the current situation at short notice we launched attractive proposals for businesses, which help maintain liquidity. Thanks to the next agreement with BGK regarding liquidity guarantees securing credit transactions, for the first time also large companies can enjoy support – Andrzej Gliński, Member of the Bank Management Board of Bank Millennium, said.

The Liquidity Guarantees Fund can provide businesses i.a. with:

  • security up to 80% of the amount of a loan to assure financial liquidity (amount of the guarantee from 3,5 mln PLN to 200 mln PLN);
  • guarantee for a loan up to 250 mln PLN;
  • guarantee period up to 27 months.

Guarantees from Liquidity Guarantees Fund will be granted until end of 2020.

The liquidity guarantee supplements the offering of Bank Millennium as regards BGK guarantees, where very important positive changes were made recently. In the de minimis guarantees programme this is, above all:

  • increased coverage of guarantees from 60% to 80% of loan amount
  • guarantee period extended from 27 to 39 months
  • no fee to BGK for granting guarantees on loan granted until end of this year.

- For some weeks now we have been noticing strong interest in de minimis guarantees. We are receiving many enquiries and positive feedback. Customers appreciate the extension of the scope of cover and no fee. Additionally together with the new liquidity guarantees, medium businesses now have a choice. Depending on the amount of financing they can choose between both types of guarantees in the support programmes – credit transactions in smaller amounts can be secured with de minimis guarantees, while larger ones - with guarantees from the Liquidity Guarantees Fund – Agnieszka Kucharska, Head of Corporate banking Credit products and process team in Bank Millennium, said.

Applying for BGK guarantees in Bank Millennium is done i.a. with use of electronic channels.

As we launched digital circulation of documents recently, we presented businesses in these demanding circumstances with a complementary set of product and process solutions. We also want them to have a possibly broad access to digital channels, in order to reduce contact with bank employees to a minimum, even with the most difficult transactions, using i.a. qualified signature with qualified time stamp – Agnieszka Kucharska added.