New financing to support companies affected by the COVID-19 pandemic

Polish Agency for Enterprise Development allocated an impressive sum of 2.5 billion PLN in the recently announced “Working capital grants” project intended to help maintain the business operations of companies feeling the impact of the COVID-19 pandemic. The funds are available under the Smart Growth and Eastern Poland Operational Programmes. Application process opens on 15 May.

Graphics from the new financing program

Working capital grants complement the government’s anti-crisis shield. “The pandemic’s economic implications mostly affect micro, small and medium enterprises. We are doing everything in our power to offer entrepreneurs a chance to come out of the crisis stronger and capable of further developing their businesses. We want them to know that we are here for them and pay special attention to their needs. This is what we wish to achieve with projects like this”, said Jadwiga Emilewicz, Deputy Prime Minister, Minister of Development.

The support is mostly aimed at medium enterprises, which need to demonstrate a decline in revenue of at least 30% in any given month before 1 February as compared with a preceding month or an analogous period from the previous year.

“The project offers maximum funding of almost 430,000 PLN, assuming that an enterprise has 249 employees and applies for three-month support. As many as 2 billion PLN are funded by the Smart Growth Operational Programme targeting companies struggling with COVID-19 impact and facing liquidity crisis. The Eastern Poland Operational Programme helps generate another 500 million PLN”, explained Małgorzata Jarosińska-Jedynak, Minister of Funds and Regional Policy.

Eastern Poland Operational Programme funding is available for companies operating in the voivodeships of Lublin, Subcarpathia, Podlasie, Świętokrzyskie, and Warmia and Masuria.  On the other hand, the Smart Growth Operational Programme will grant support to companies operating in the voivodeships of Lower Silesia, Kuyavia and Pomerania, Lubuskie, Łódź, Małopolska, Mazovia, Opole, Pomerania, Silesia, Wielkopolska, and Western Pomerania.

“The current pandemic impacts all economic sectors, with numerous companies experiencing its devastating consequences. It is absolutely crucial to help them get through this challenging period; not only for the entrepreneurs, but for the economy as a whole. This is why companies involved in the project can receive up to 100% of eligible costs, without making their own contribution. In addition, the whole process will be carried out remotely so as to optimally facilitate the stage of submitting applications”, said Małgorzata Oleszczuk, President of Polish Agency for Enterprise Development.

Applications can be submitted between 15 June and 31 July or until the allocation is exhausted. The date of application delivery will be decisive in the process of awarding the grant. 

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