Bank Gospodarstwa Krajowego, together with the Ministry of Funds and Regional Policy, established the SME Liquidity Support Loan Fund. Its objective is to help companies which are the most vulnerable to lose liquidity as a result of the epidemic of SARS CoV-2.

Liquidity loans provided as part of the Operational Programme Smart Growth enable borrowers to finance a wide range of expenses related to day-to-day operations of the company and ensuring its financial liquidity. The loans are an interest-free financing provided to micro, small and medium-sized enterprises, irrespective of the industry or region, in which they operate. The fund’s budget is PLN 3.38 billion.

OP SG liquidity loan – benefits for the company:

  • the company repays only the borrowed capital;
  • repayment period up to 6 years;
  • loan amount: twice the payroll at the company for 2019 or for the last year (in the case of companies established on or after 1 January 2019, the maximum loan amount cannot exceed the annual salary costs estimated for the first two years of operation) or 25% of total revenue of the company in 2019; six-month grace period for repayment;
  • payment holiday of two months – once in a year for two first years of the loan repayment;
  • no own contribution required.

Permitted use of proceeds from the liquidity loan provided under the OP SG:

  • salaries, including social security contributions and tax advances;
  • taxes, health and insurance premiums;
  • stock replenishment, semi-finished products;
  • ongoing charges;
  • ongoing lease payments and loan instalments;
  • other expenses necessary to be incurred to ensure the operation of the company.

Effects of activities (as at 31 December 2021):

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Examples of loans advanced

BOGONI spółka z ograniczoną odpowiedzialnością Spółka komandytowa

Industry: production of various dairy products

The company’s business comprises the production of various dairy products. The BOGONI trademark and a significant part of products (mainly cheeses) have been registered for protection with the Patent Office. Over the years of its operation, the company has won many awards and certificates for its contribution to the development of healthy food production. The company also received a diploma and a licence authorising it to use the emblem Agro Polska, awarded to products of outstanding quality and taste.

Impact of COVID-19 on the company’s operations

The pandemic began when the company was launching new functional products, such as protein shakes, probiotic shakes and energy drinks, under the new BOGONI BALANCE FOOD brand. Bogoni Balance Food is an innovative health, high-protein product based exclusively on high-functional whey protein that is essential for the body (no added casein, vegetable protein or other substances that synthetically increase protein levels). The product ingredients also include beneficial probiotic bacteria. The products were intended to be mostly for active people who want to lead a healthy lifestyle. Given that, the company’s marketing plan envisaged targeting promotional activities at users of gyms, fitness clubs and any physical fitness facilities. Unfortunately, the fitness industry was locked down due to the pandemic, putting planned marketing efforts on hold.

Another negative effect of the pandemic was the lockdown of the catering industry, which is an important market for the products offered by the company: cheese for pizzerias and various types of snack cheese.

The company’s products are not everyday use products, so the restrictions on social and family meetings also significantly affected the company’s sales.

During the pandemic, the company also suffered from staff shortage, which caused a decline in sales at chain stores. Its representatives went on sick or parental leaves, so they visited chain stores through which products are sold much less frequently. Fewer visits by the company’s representatives to third-party stores resulted in worse product display and, ultimately, fewer orders for the company’s products.

Loan amount: PLN 1.3 million

Use of proceeds from the loan: payment of salaries to employees and purchase of raw materials from farmers

Province: Małopolskie

Financing institution: Foundation for the Development of the Rabka Region

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Dobry Stolarz Gąska Spółka jawna

Industry: industrial processing – manufacture of wooden containers

 The company has been operating since 1985, has over 25 years of experience in high-gloss painting and CNC machining, has new and modern machinery and meets ISO quality standards. Apart from elementary aspects, such as price, packaging and logistics, POS materials have a significant influence on the purchase decision of its products. Orders are executed quickly and efficiently thanks to CNC technology. The skilful combination of five-axis and conventional machining gives a competitive edge. Dobry Stolarz offers a full range of glosses and special effects. Deep mats and high glosses adorn each design. What is especially worth emphasising is the capacity to paint elements as a solid, that is without visible structural elements. The company has a technology developed together with the Rzeszow University of Technology, which makes it possible to impart antibacterial properties to the varnished surface.

Impact of COVID: the closure of beauty salons and spas resulted in a decline in sales of beauty accessories, while the closure of shopping centres led to a reduction in POS orders, thus reducing the company’s turnover, which in turn hit its liquidity.

Loan amount: PLN 1.2 million

Use of proceeds from the loan: salaries of employees, repayment of trade payables, provision of raw and other materials and packaging, repayment of current loan instalments

Province: Podkarpackie

Financing institution: Consortium members: Agencja Rozwoju Regionalnego MARR S.A. and Biłgorajska Agencja Rozwoju Regionalnego S.A.

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Villa „Delfin” SPA Rekowska Bożena

Industry: hotels and similar accommodation

The Villa Delfin Spa facility is located about 200 metres from the beach in Świnoujście, which is a 3-minute walk. It is housed in a modern building, which also has a spa that offers a wide range of treatments. The facility features excellent relaxation spaces, including a terrace with sun loungers and a garden. The on-site restaurant serves Polish and European cuisine. Each morning, the restaurant serves a buffet breakfast. It is a perfect base for exploring Świnoujście, where you can see World War II fortifications, the Sea Fishery Museum, a lighthouse and the widest beach on the Baltic Sea. The distance from the German border is 1.5 km.

 Impact of COVID: decline in revenue – temporary complete lockdown of the industry; opening the industry with restrictions – limit on available beds, inability to provide auxiliary services; lower number of foreign tourists

Loan amount: PLN 900,000

Use of proceeds from the loan: payment for expenses related to day-to-day operations of the company and ensuring its financial liquidity – financing of salaries, public charges, maintenance of infrastructure, trade payables, stock replenishment and payment for the cost of purchase of an automated reception desk

Province: Zachodniopomorskie

Financing institution: Foundation for the Development of Polish Agriculture

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