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About PFR Financial Shield program
PFR Financial Shield program is financed and implemented by Polish Development Fund (PFR). It is the government financial support program for companies under the Anti-Crisis Shield.
An application for financial support (subsidy) can be submitted in Millenet online banking system:
- the application is dedicated to micro, small and medium enterprises
- up to 75% of funding will be non-repayable once the conditions set out in the program are met
- the goal of the program is to minimize the negative effects of the ongoing epidemic, protect jobs and Polish enterprises
Detailed rules for granting the subsidy can be found in the guide of the Polish Development Fundlink opens in a new window and on the websites of the Polish Development Fund link opens in a new window, where you can also find answers to the most common questionslink opens in a new window (in Polish).
We also encourage you to check the materials from the webinarlink otwiera się w nowym oknie organized by us on 20.05.2020.
Who can apply online?
Check the rules for calculating the number of employeeslink opens in a new window (in Polish).
Check how to apply for the subsidy before you submit the application
- you can apply for the subsidy in Millenet online banking system (it is not possible to submit an application at the branch or via the helpline)
- you can only apply for the subsidy at one bank, even if your company has accounts at different banks
- you will receive the subsidy only once for the month selected in the application as the month of decrease in turnover
- we will inform you about the status of the application by sending a message to the Millenet contact box
- after the PFR approves the application, the subsidy will reach the account indicated in the application within one business day
As the basis for the verification of applications and statements that affect the grant of the PFR Financial Shield and its amount are public registers, it is important for the entrepreneur who will apply for it to submit a VAT declaration in time that will allow it to be processed and approved by the Ministry of Finance.
- VAT-7 for March this year and VAT-7K for the first quarter of this year can be submitted from 1 April 2020
- VAT-7 for April can be submitted from 1 May 2020
- until the end of the current month, the only possible month to indicate in the application form as the basis for calculating the amount of the subsidy is March (details herelink opens in a new widow)
In the Financial Shield program, the size of the decrease in sales revenues is calculated for any month after 1 February 2020 compared to the previous month or the same month last year due to the disruption of the economy during COVID-19. The first month after 1 February 2020 is March 2020. Consequently, by the end of April, as the first month in which the entrepreneur recorded a decrease in sales revenues, March 2020 may be indicated.
The entrepreneur can choose how to compare the revenues:
- month to month, this way the decrease in sales revenues in March 2020 will be compared to sales revenues in February 2020
- year to year − the decrease in sales revenues in March 2020 can be compared to the sales revenues in March 2019
Where you can find the application and check its status
The application for the subsidy can be found after logging in to Millenet in the MilleAdministration > Financial Shield section.
After submitting the application you can check its status in this section as well, as well as submit an appeal application.
The application for the subsidy be found after logging in to Millenet for Companies in the Documents and applications section > Financial Shield.
After submitting the application in the same tab, you can check its status, as well as submit an appeal application.
The application submitting process
Fill out the application for financial support for your company in Millenet.
The application is registered and sent to Polish Development Fund.
Polish Development Fund will verify your application form, and we will inform you about its status.
You can check information on the decision and the amount granted in Millenet.
- PFR financial subsidy agreement form (in Polish)
- PFR power of attorney form (in Polish)
- PFR beneficiary statement form (in Polish)
- Appeal application form (in Polish)
- Regulations of applying for participation in the Financial Shield of the Polish Development Fund government program (in Polish) – valid until 28.05.2020.
- Regulations of applying for participation in the Financial Shield of the Polish Development Fund government program (in Polish) – valid from 28.05.2020.
PFR Financial Shield application is available only after signing on to the Millenet electronic banking system. The Bank does not send by e-mail any messages requesting that the recipient goes to the Bank’s portal or to Millenet and provides any personal data, sign-on data etc. Such messages are typical examples of “phishing” and aim to fraudulently obtain Customers’ data. “Phishing” attempts should be reported to the Bank, i.e. by phone. If possible, we would like to encourage you to save suspicious mailings and send them to the address given by the Bank employee.
- the application is available free of charge after signing on to Millenet, Bank does not allow submitting the application by other systems
- it is not necessary to install any apps or software in the computer/phone to fill-in the application
- only at the end of the application process you will be asked to provide the SMS P@ssword / Mobile Authorisation or a token
The Bank will inform you about the possibility to submit an application by means of electronic channels e.g. a text, a message in mobile app or a message in Millenet. If you receive suspicious correspondence or mailing regarding the application from unknown sender or someone asks you to provide sign-on data and single-use passwords in this matter, report it promptly to Bank employees, i.e. by phone.
Please recall that in connection with the application the Bank does not ask for any data to be provided by e-mail or text.Please be careful and show limited trust with respect to e-mails or texts, which contain a request for confidential data or which provide links to the websites of banks or third parties.
- Standard security rules in Millenet online banking system
Signing on to Millenet always make sure that the line is encrypted by checking if the address of the website in the browser’s window begins with https:// and whether an icon depicting a closed padlock appears on the bar at the bottom or tope of the screen (depending on the browser being used) – the padlock confirms that the website is covered by a security certificate and the line is encrypted. After clicking on the padlock check if the certificate is correct and valid. Please note that only the combination of a correct address and correct content of the certificate can guarantee that the website is legitimate and we are not subjected to a “phishing” attack.
Frequently asked questions
More questions and answers can be found on the Polish Development Fund websitelink opens in a new window (in Polish).
- What is the subsidy?
The subsidy is a financial support paid to companies through Bank Millennium.
- What amount of subsidy can a company receive?
Micro-enterprises can receive up to a maximum of 324 000 PLN (approx. 72 000-96 000 PLN) for 3 years. This amount may be lower, depending on the result of PFR's analysis of the application (the amount of financial subsidy depends on the number of employees and the scale of income decrease).
Small and medium enterprises can receive up to 3.5 million PLN (approx. 1.9 million PLN) for 3 years. This amount may be lower, depending on the result of PFR's analysis of the application. The maximum amount of repayable subsidy under the PFR Financial Shield program for SME's is calculated as % of the entrepreneur's sales revenues for the financial year 2019. The amount of support expressed as % of sales revenues also depends on the scale of the decrease in turnover during COVID-19.
- Who can apply?
An application on behalf of a company may be submitted by a person who:
- access to the company's electronic banking system,
- the right to make transfers or make declarations of will on behalf of the company,
- makes a statement on the application that:
- has been authorized by the company to perform all activities related to submitting the application and signing the subsidy agreement,
- is aware of criminal liability related to making false statements and acting on behalf of the company without the required authorizations,
- has the option of signing the application using bank authorization tools.
- Can an application be submitted by a Client who has an individual account at Bank Millennium and a business account at another bank?
The application can be submitted from the business account in Millenet and in Millenet for Companies. Therefore, a Client who does not have a business account in Bank Millennium or access to Millenet for Companies will not be able to submit an application through our channels.
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