Millennium Leasing with Poland’s first leasing agreement with a BGK guarantee
Thanks to Millennium Leasing’s agreement with Bank Gospodarstwa Krajowego a guarantee limit has been launched that allows to use Bank Gospodarstwa Krajowego (BGK) guarantees to cover leasing agreements signed by the company with SMEs. The first entrepreneur has already taken advantage of this opportunity by concluding on 30 July this year with Millennium Leasing a leasing agreement secured with a BGK guarantee.
– Millennium Leasing is the first leasing company in Poland to offer customers the possibility of concluding leasing agreements covered by BGK guarantees. The BGK guarantee programme increases the availability of capital for companies and their investment opportunities. This is a vital support in a situation where in many sectors of the economy we are still struggling to compensate for the effects of the pandemic and last year’s turbulences in business activity – said Marcin Balicki, CEO, Millennium Leasing.
Thanks to the agreement for leasing with a BGK guarantee entrepreneurs may benefit from financing on more attractive terms. Their benefits may include among others a reduced leasing margin, longer leasing duration, increased leasing amount or reduced requirements as to the level of other collateral. BGK guarantees may cover up to 80 per cent of a leasing transaction, with the maximum tenor of 10 years.
– Over 60 per cent of Polish entrepreneurs consider leasing the most important source of funding their business. It is very important for us that in times of the crisis caused by the coronavirus pandemic entrepreneurs have easier access to it. We have thus prepared guarantees for leasing which can help generate leasing valued PLN 5.6bn and will support entrepreneurs and the Polish economy in these hard pandemic times – says Halina Wiśniewska, Head of the Guarantees and Sureties Department at BGK.
A guarantee may secure lease transactions granted by those lessors who are provided with a guarantee limit under an agreement signed with BGK. Granting leasing financing will mean using the support of a guarantee instrument – Pan-European Guarantee Fund implemented by the European Investment Fund with financial support from Member States – contributors to the Pan-European Guarantee Fund. The purpose of this fund is to protect the UE economy from the consequences of the SARS-CoV-2 pandemic.
Last Updated on August 4, 2021 by Karolina Ampulska