Application under Financial Shield 2.0 available online in Bank Millennium

This declaration means that companies from selected sectors, which are in a difficult situation in relation to the coronavirus pandemic, will be able to apply for support from Polish Development Fund (PFR) Financial Shield in Bank Millennium’s e-banking. In January the Bank will release to customers a convenient and friendly solution, which will make applying as simple and intuitive as possible.

– Bank Millennium is taking part in many Government projects and also in case of Shield 2.0 it will make its systems available, which will enable applying in a convenient way for support as well as distributing funds efficiently and expeditiously to companies, which are in a difficult situation. This help is only natural for us, because we understand our customers well and consistently support the Polish economy and building a digital public administration. Banking systems have become a window to the digital world of Polish administration; customers are quite satisfied using the opportunities created in cooperation between banks and government administration. – Andrzej Gliński, member of the Management Board of Bank Millennium, said.

Financial subsidies offered by Polish Development Fund in Shield 2.0 will be provided to micro, small and medium companies from almost 40 sectors identified on the basis of Polish Industrial Classification, which had to limit or suspend their operation in relation to preventing the spreading of the COVID-19 virus. The total value of Financial Shield 2.0 aid will be 35 bn PLN, with micro businesses and SMEs getting approx. 10 bn PLN. It is planned to start accepting applications on January 15th 2021, provided that the European Commission is notified of the programme.

Companies, which during the April-December 2020 or October-December 2020 period experienced a decline of turnover by at least 30% vs. the same period of 2019. When the specified requirements are satisfied, the Financial Shield 2.0 subsidy may be fully forgiven.

Microbusinesses employing from 1 to 9 persons, which had sales or total assets in 2019 up to 2 million euro, will be eligible for financial subsidies of 18,000 or 36,000 PLN per person employed, up to the maximum amount of 324,000 PLN. Their amount will depend on the number of employees and decrease of turnover.

As for companies employing up to 249 persons and sales in 2019 equal to or lower than 50 mln euro, with total assets below 43 mln euro, the subsidies will depend on the forecast of costs and revenues as well as gross loss up to the maximum amount of 3,5 mln PLN. This will cover 70% of their losses.

Author:

Bank Millennium SA

Last Updated on March 29, 2021 by Karolina Ampulska