If your company was in good financial condition and is currently experiencing temporary problems caused by the pandemic, then you have the opportunity to apply for suspension of loan instalments taking into account the following rules:
- small and medium enterprises* using instalment credit products have two options:
large enterprises using instalment credit products have the option of suspending the repayment only for principal instalments up to 6 months
for factoring products, regardless of the size of the enterprise, it is possible to extend to 180 days:
- suspension of repayment of principal and interest instalments up to 3 months
- suspension of repayment only for capital instalments up to 6 months
- the period of tolerated delay (incomplete factoring or Mille-Link factoring)
- the repayment date of the unpaid debt due to the debt financed under reverse factoring
The above principles constitute a uniform approach of the Polish banking sector developed within the Polish Bank Association on the basis of the guidelines of the European Banking Authority (EBA). Statement of the Polish Bank Association (in Polish).
Clients who already use a suspension of repayment in credit or factoring products have the option to adapt the conditions of repayment suspension to the principles described above. For Clients who have used the suspension of both principal instalments and interest instalments, and currently would like to extend the suspension period only for the repayment of principal instalments for a period of more than 3 months, repayment of interest due according to the previous schedule will be required after signing the annex introducing the new repayment schedule.
If you want to benefit from the solutions described above, you should submit an application. The Bank will not charge a fee for signing the annex to the agreement. To arrange the details, please contact the Bank Advisor.
Information about the possibility of suspending leasing instalments can be found on the Millennium Leasing website (in Polish).