CORONAVIRUS - BANKS' ASSISTANCE FOR ENTREPRENEURS

In accordance with the declarations of the Polish Bank Association, the banks will take steps to implement solutions which, in a simplified and less formalised manner, will allow to mitigate the difficulties in paying off liabilities towards banks which, in connection with the COVID-19 pandemic, may occur on the side of borrowers.

The above-mentioned aid measures are to consist, in particular, in the suspension of repayments of interest or capital instalments for a period of up to 3 months and the automatic extension by that time of the total repayment period of the facility subject to the extension of the facility security, renewed financing for a period of up to 6 months, deferment of repayments of leasing instalments due from lessees and, accordingly, deferment of repayments due from the factoring party, on the same terms as for the suspension of loans.

The banks shall also not charge fees or commissions for accepting and considering applications for suspension of payments of capital and interest instalments or capital instalments.
Furthermore, the banks are ready to implement facilitations for access to short-term facilities to stabilise the financial situation of the bank’s clients who have been affected by the COVID-19 outbreak.

2020-03-20 10:04

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