Microloan of up to PLN 5,000 – Anti-Crisis Package

Below, I present a study on the possibility to apply for a microloan addressed to persons running micro-enterprises. The loan of up to PLN 5,000 is to cover the current costs of running a business.

For who?

Entrepreneurs:

1) who in at least one of the last two financial years met the following cumulative conditions:

a) had an average of less than 10 employees per year (there must be at least 1 employee – the system does not accept applications below 1 full-time equivalent);

b) achieved annual net turnover in sales of goods, products and services and financial operations not exceeding the PLN equivalent of EUR 2 million or the total assets of its balance sheet as at the end of one of those years did not exceed the PLN equivalent of EUR 2 million;

2)       who were established before 1 March 2020.

In what amount?

Up to PLN 5,000

For what purpose?

To cover the costs of current business activities.

What should be done?

The entrepreneur should submit an application to the district labour office competent for the place of the entrepreneur’s business activity, after the procedure launch announcement made by the head of the district labour office; consecutively, the entrepreneur should sign the contract.

In Katowice the announcement was published [here].

How is this loan different from others?

1) The interest rate on the loan is fixed and amounts to 0.05 per annum of the current rediscount rate for bills of exchange accepted by the Narodowy Bank Polski [National Bank of Poland] (currently it is 1.05)

2) The loan repayment period may not be longer than 12 months, with a grace period of 3 months as of the date of granting the loan.

3) The loan together with interest at the request of the entrepreneur is subject to redemption, provided that the entrepreneur does not reduce the state of employment in relation to the state of employment as of 29 February 2020 for a period of 3 months as of the date of granting the loan.

Beata Bieniek-Wiera, attorney-at-law