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If your application for financial support has been rejected or the amount received is too low, you can appeal against the PFR decision
The PFR Financial Shield 2.0 is a program aimed at providing financial aid to companies from industries that had to reduce or suspend their activity due to the epidemiological situation related to COVID-19.
- It will be possible to redeem 100% of the subsidy if employment rate is maintained in 2021
- Until 15 April you can submit a claim for a subsidy application
Register for a free training
You can find out how to get assistance now. Take part in free online training. Training dates and a link to registration can be found on the PFR website.
Learn more about the program
- for companies with 1 to 9 employees from industries listed in the Requirements section
- the maximum turnover/balance sheet total for 2019 is EUR 2 million
- financial support in the amount of 18.000 PLN or 36.000 PLN per employee
- the maximum amount of the subsidy is 324.000 PLN
- the amount of the subsidy depends on the number of employees and the decrease in turnover
- financial support intended for companies from the indicated industries that have recorded min. 30% decrease in turnover in the period IV-XII or in the IV quarter of 2020 as compared to the same period in 2019
- the subsidy is granted on a non-refundable basis on condition that average employment is maintained in 2021 compared to 2020.
- for companies employing from 10 up to 249 employees from the industries listed in the Requirements section
- 2019 turnover less than or equal to 50 million EUR, and balance sheet total less than 43 million EUR
- co-financing of fixed costs not covered by revenues in the form of a financial subsidy in the amount of 70% of the gross loss for the period from 1 November 2020 to 30 April 2021
- subsidies up to the maximum amount of 3.5 million PLN
- tthe amount of the subsidy depends on the forecast of costs and revenues and gross loss
- for companies that have recorded min. 30% decrease in turnover in the period IV-XII or in the IV quarter of 2020 as compared to the same period in 2019
Check requirements for your company
- Help only for selected industries
The industry is verified on the basis of the PKD code as at:
- 31 December 2019,
- 1 November 2020,
- and the date of submitting an application for a financial subsidy,
in the scope of whether the entrepreneur's activity is performed in one or more of the indicated PKD codes. PKD covered by the program does not have to be the leading PKD code of the entrepreneur.
You can check the list of PKD covered by the program on the PFR website in the section Conditions required to receive support from the PFR Financial Shield 2.0.
The condition concerning the PKD is met when the change of the PKD code has been declared by the entrepreneur to the relevant register not later than within 7 days from the date of the change.
An entrepreneur who runs a business under the PKD code specified in accordance with the code numbering before 2007 will be able to obtain a financial subsidy, provided that the equivalent of the old PKD code is on the list of PKD codes admitted to the Program.
- Employment calculation rules
The condition for qualifying for the program is the employment of at least 1 employee as of 31 December 2019. In the absence of any employee on this date – as of 31 July 2020.
For the purposes of establishing the status of a Micro-company/SME, an employee is understood as a person employed under an employment contract, but employees on maternity, paternity, parental, and professional leave are not considered employees.
For the purposes of calculating the amount of the financial subsidy, an employee is a natural person:
- which, in accordance with the provisions of Polish law, remains with the entrepreneur in an employment relationship and which was reported by the entrepreneur to social insurance on the day of determining the employment status for the purpose of determining the maximum amount of the financial subsidy due to the entrepreneur, with the provison that the employment status is calculated on a full-time working schedule, or
- cooperating with the entrepreneur, regardless of the legal form of this cooperation (in particular on the basis of civil law contracts, such as a mandate contract or a specific work contract), and for which the entrepreneur pays social security contributions as at the date of establishing the entrepreneur's employment status for the purpose of determining the maximum amount of financial subsidy.
- Representation confirmation
The application must be submitted by a person authorized to represent the Beneficiary. At the time of submitting the application, it is necessary to attach a confirmation of the authorization of the person representing the Beneficiary. Confirmation of the authorization must be attached electronically at the time of sending the application to the PFR.
- Decline in economic turnover is required in order to apply for subsidy
In the case of applying for a financial subsidy, it will be required to submit the JPK_V7M or JPK_V7K file to the tax authority, in advance enabling the data to be processed by the tax authority and data transferred to the PFR (up to 7 days).
- Additional conditions for the beneficiaries of the PFR Financial Shield 1.0
For entrepreneurs who were beneficiaries of the PFR Financial Shield 1.0, the maximum amount of financing from both Shields per 1 employee may not exceed 72,000 PLN for micro-enterprises and 144,000 PLN for SMEs.
- Conditions for the redemption of subsidies
The financial subsidy is fully canceled, provided that all the following conditions are met. The possible paying back of the financial subsidy or its part will take place after 31 December 2021. PFR reserves the right to specify in the program regulations the exact rules for the return of the financial subsidy and the conditions for redemption.
- Maintaining business activity as at 31 December 2021, understood as uninterrupted business activity in the period from the date of submission of the application to 31 December 2021. In the period from the date of submission of the application to 31 December 2021, the entrepreneur cannot be liquidated, bankrupt or restructuring.
- Only for micro-enterprises: Maintaining average employment in 2021 as compared to 2020.
- Only for SMEs: Accounting for the excess of the granted financial subsidy after 31 December 2021, but no later than 31 January 2022. At the same time it is not possible to compensate fixed costs exceeding the support received. The beneficiary reports the actual fixed costs based on financial statements or accounting documents for the period from 1 November 2020 to 31 March 2021.
- Prohibition of making any payments (including, but not limited to, severance payments, other similar benefits related to the termination of the legal relationship between the beneficiary and the employee, awards, bonuses, profit participation and other benefits discretionally paid to the employee by the beneficiary) to any person with the status of an employee the beneficiary on account of, or in connection with, an agreement (including an employment contract or a civil law contract) linking such person with the beneficiary, the existence of which determines his status as mentioned above, in addition to the basic remuneration.
- It is forbidden to transfer funds from the program, under any legal title, to the owners or entities associated with the beneficiary.
- Prohibition of prepaid loans, leases and other similar instruments.
- Prohibition of direct or indirect financing of a purchase (takeover) transaction, in whole or in part, of another entity, or making transactions aimed at, directly or indirectly, such acquisition or takeover (acquisition prohibition).
If a customer incurs a debt under the PFR Financial Shield (Polish Development Fund), it is not treated as a breach of the credit transaction agreement concluded with the Bank - i.e. it is not treated as a breach of the covenant not to contract obligations without the Bank's consent.
Where you can find the application
The application for the subsidy can be found after logging in to Millenet in the MilleAdministration > Official applications > Financial Shield 2.0 section..
After submitting the application, you can check its status in this section.
The application for the subsidy can be found after logging in to Millenet for Companies in the Documents and applications section > Financial Shield 2.0..
After submitting the application in the same tab, you can check its status in this section.
- link opens in a new window Program presentation (in Polish)
- link opens in a new window Power of attorney template (in Polish)
- link opens in a new window Regulations (in Polish)
- link opens in a new window Decision template (in Polish)
- link opens in a new window Appeal template
- link opens in a new window Agreement forms and current regulations can also be found on PFR website.
Worth to know
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 the recipient to visit the Bank’s portal or to log in to Millenet and provide 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 relating to this matter, report it promptly to Bank employees, i.e. by phone.
Please keep in mind 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.