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Guarantee Funds in Poland by Tomasz Bąkowski, PhD President National Association of Guarantee Funds . Warszawa, 2012.
Tomasz Bąkowski, PhD
National Association of Guarantee Funds
General information about Poland:Population: 38.116.000Economically active persons: 17.660.000SMEs: 1.800.000 Area: 312.685 km2GDP: - total: 312.639 billion euro - per capita: 8.202 euro
Aggregate amount of collateral with the division on bail in each range of values .
The structure of guarantees due to the number of contracts in each range of values guarantees.
The funds provide guarantees of micro, small and medium enterprises (definition of the European Commission), doing business and having its registered office in Poland. In the case of funds that have been supported by the RPO (operational programs in the Regions) or the JEREMIE program, guarantee are available for enterprise who operating in the province.
Lack of ability to repay the debt and the restructuring of the company within the meaning of the Community guidelines on State aid for rescuing and restructuring firms (firms in difficulty) excludes the possibility of sponsoring.
The funds provide guarantees for companies classified in the category of investment. The adoption of the so-called safe rates according to the Commission Notice on the application of art. 87 and 88 EC Treaty to State aid in the form of guarantees (OJ. C 155/02 of 06.20.2008 issued) and the European Commission Communication on the revision of the method for setting reference and discount rates (OJ. C 14 of 19.1. 2008).
Surety shall not be granted to entrepreneurs, who was responsible for the return obtained by the earlier state aid resulting from the European Commission\'s decision declaring the aid incompatible with the law or with the common market.
Guaranteed loans to finance economic activities, provided by banks with whom the fund has entered into a cooperation agreement.
Guarantees associated with loans are intended for purposes directly related to economic activity. The programs funded by the RPO and JEREMIE are excluded or severely limited funding for current operations (loans and working capital loans).
The maximum value of the guarantee may not exceed 5% of the equity fund.
Total liabilities of the Fund in respect of guarantees given to one business may not exceed 5% of its capital.
The guarantee may be granted up to the max. 80% of the principal amount of the loan and the value of the guarantee for its duration may not exceed 80% of the current commitments under the credit contract.
The funds provide a guarantee for a period of 60 months (regardless of the credit period).
Liability Fund on account of guarantee does not include interest, commissions, fees, charges or costs of the investigation by the funding institution.
The funds generally accept the grace period for liability incurred.