by Olga Łata-Irzyniec

Finanse, Prawo działalności gospodarczej9 czerwca 20200 comments

Financial Shield of the Polish Development Fund (PFR) for Large Companies

Dear Sirs,

the governmental program “Financial Shield of the Polish Development Fund (PFR) for Large Companies” has been launched.

The program is intended for Large Companies, by which we mean:

• Large enterprises with more than 249 employees (as of 31 December 2019) or with a turnover exceeding EUR 50 million and a balance sheet total exceeding EUR 43 million;
• Small and medium-sized enterprises which employ more than 150 employees (as at 31 December 2019), excluding the owner, and whose annual turnover for 2019 exceeds PLN 100 million if they are not a beneficiary of the governmental program Financial Shield of the Polish Development Fund for Small and medium-sized enterprises, where the funding gap according to the financial projections exceeds PLN 3.5 million, or where the funding relates to the Sectoral Program in connection with COVID-19.

A qualified electronic signature is required for the application.

The application procedure is described below:

1. The application shall be made using the form available on the PFR website – link below

https://pfrsa.pl/tarcza250

2. It is necessary to accept the regulations of the Polish Development Fund’s Financial Shield for Large Companies program by ticking the appropriate box in the form placed on the PFR website.
3. Download the declaration file of the application for funding and sign the declarations with the qualified electronic signature and then attach them to the form on the PFR website.
4. Once attached to the above file, you will have access to the relevant part of the form, in which information on the company should be completed, including in particular a description of the company’s activities, information on the management and ownership structure, historical financial data of the company in the form of financial statements for the last two years, financial projections of the company and a description of the negative impact of COVID-19 on the company’s financial situation

The amount of funding under the Programme is limited and depends on the external financing of the PFR.

At the same time, the PFR stipulates that, pending the final decision of the European Commission with regard to Aid for Capital Financing, the conditions and criteria for applying for support in the form of Aid for Capital Financing may change, depending on the final decision of the European Commission. In this respect, the PFR indicates that, depending on the European Commission’s final decision, certain provisions of the regulations may be subject to change, which will be communicated by the PFR by submitting a revised version of the regulations.

If you have any questions or concerns, we are at your disposal.

Best regards, KBZ Żuradzka & Partners Team