PFR ‘Financial Shield’ for micro, small and medium-sized businesses

We would like to inform you that on 27th April 2020, the support programme for micro, small and medium-sized businesses implemented by the Polish Development Fund (the so-called ‘PFR Financial Shield’) was approved by the European Commission (EC). Applications should be submitted via internet banking, operated by the banks listed under this LINK.

Please note whether your bank participates in the program (the list does not include, for example, Raiffeisen Bank International AG (Joint Stock Company) Branch in Poland or Bank Gospodarstwa Krajowego).

We would also like to point out that some of the banks have made available on their website’s calculators, through which you can pre-calculate how much help an entrepreneur can count on.

The Polish Development Fund has informed that after the technical implementation of the last recommendations of the EC, the acceptance of applications will start within the next few days, however, the documentation is still being updated and some of the entries in the programme may change.

We would also like to point out that the ‘PFR Financial Shield’ dedicated to large businesses is still awaiting the approval of the EC. The submission of an initial application is already possible just now (via the online form available on the PFR LINK) – and the detailed rules of eligibility and possible funding will be communicated to companies when the programme is launched.

Source: TaxAGroup

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