Please select the partial compensation of interest option relevant to you
Who may apply? A small/medium-sized enterprise (SME) that has a valid loan agreement and that, in the time period from 16 March 2020 to 31 December 2020, signs with a financial institution an arrangement regarding postponement of loan payments under:
  • an investment loan agreement,
  • a finance lease agreement, or
  • a revolving loan agreement,

with the exclusion of any loans provided from the funds of the measures “Loans for payable invoices” or “Loans to businesses most affected by COVID-19.” Under this measure, an overdraft, factoring, letter of credit or bank guarantee shall not qualify as a loan.

Conditions that a SME must satisfy:
  • The SME is not going bankrupt, is not undergoing restructuring or liquidation;
  • The loan payment period is postponed from 16 March 2020 to 31 December 2020;
  • The interest rate is not raised during the loan payment postponement period;

A SME may apply no more than two times in respect of one loan agreement.

How much?
  • 100% of the interest paid during the loan payment postponement period, but no more than 7% of annual interest.
  • The maximum time period for which 100% interest compensation may be provided may not be longer than 6 months during the loan payment postponement period.
  • Maximum compensation term: 31 December 2020.

Compensation may be provided within the limit of EUR 200,000 de minimis support.

How does it work?

To avail of the measure, an application must be submitted to Invega. The loan agreement must be concluded with a financial institution that has signed a cooperation agreement with Invega (list of financial institutions).

The term of examination of an application is up to 30 business days from the date all required documents are properly submitted. In case of a favourable decision, compensation of interest will be paid on a monthly basis. Information about taken decisions can be accessed by logging in to the electronic application submission system, in the “Agreement/Decisions” section.

 Compensation of interest shall not be provided, if:
  1. An investment loan was provided to an entrepreneur and intended for the development of residential real estate, i.e. purchase and/or construction of such real estate or improvement of its condition.
  2. Under the loan agreement, the funds of the loan are intended for the acquisition of a non-commercial vehicle(s) (a non-commercial vehicle shall mean a light vehicle, which is specified as class M1 in the technical passport of the vehicle). This prohibition shall not applyto applicants whose activities are lease of vehicles, services provided by a driving school, passenger transportation, including taxi, and ride-sharing.
  3. Under the loan agreement, the funds of the loan are intended for the acquisition of company shares or bonds or financing of other financial assets.
  4. The arrangement regarding loan payment postponement provides for a higher interest rate than the rate applied before the signing of the postponement agreement compared to the loan interest rate valid on 16 March 2020.
  5. The main activity of the SME is one of the following:
  • Road freight transport and moving activity, whereby the loan funds are intended for the acquisition of freight vehicles
  • Crop production and animal husbandry, hunting and related services
  • Forestry and preparation of timber
  • Fishing and aquaculture
  • Specialised retail of firearms and munitions
  • Organisation of gambling and betting

The total amount of the de minimis support provided to an enterprise exceeds EUR 200,000.

Who may apply? A SME engaged in road freight transportation that has a valid loan agreement intended for the acquisition of road freight vehicles and that has signed with a financial institution, in the time period from 16 March 2020 to 31 December 2020, an arrangement regarding postponement of loan payments under:

– An investment loan agreement

– A finance lease agreement

Conditions that a SME must satisfy:
  • The SME is not going bankrupt, is not undergoing restructuring or liquidation;
  • The SME was not experiencing difficulties on 31 December 2019;
  • The interest rate is not raised during the loan payment postponement period;

A SME may apply no more than two times in respect of one loan agreement.

How much?
  • 100% of the interest paid during the loan payment postponement period, but no more than 7% of annual interest.
  • The maximum time period for which 100% interest compensation may be provided may not be longer than 6 months during the loan payment postponement period.

Maximum compensation term: 31 December 2020. Compensation shall be provided as State-provided support and may be provided together with other de minimis support within the limit of EUR 800,000.

How does it work?

To avail of the measure, an application must be submitted to Invega. The loan agreement must be concluded with a financial institution that has signed a cooperation agreement with Invega (list of financial institutions). The term of examination of an application is up to 30 business days from the date all required documents are properly submitted. In case of a favourable decision, compensation of interest will be paid on a monthly basis. Information about taken decisions can be accessed by logging in to the electronic application submission system, in the “Agreement/Decisions” section.

Who may apply? A SME that has a valid loan (investment, revolving,* finance lease) agreement.** An overdraft, factoring, letter of credit or bank guarantee shall not qualify as a loan under this measure.

*Where a revolving loan was provided, it must be provided from the funds of measures administered by INVEGA or with an INVEGA’s individual or portfolio guarantee;

**With the exclusion of any loans provided from the funds of the measures “Loans for payable invoices” or “Loans to businesses most affected by COVID-19.”

Conditions that a SME must satisfy:

  • The SME is not going bankrupt and is not undergoing restructuring or liquidation;
  • The loan agreement was signed in the time period between 1 October 2015 and 30 June 2020. Where an application is submitted to INVEGA on 1 July 2020 or later, the loan agreement must be signed not earlier than two months before the date the application is submitted to INVEGA.

How much? 

  • Up to 95% of the amount of actually paid interest, but no more than 7% of annual interest.
  • Maximum time period for which compensation of interest may be provided: 36 months.
  • Compensation may be provided within the limit of EUR 200,000 de minimis support.

How does it work?

To avail of the measure, an application must be submitted to Invega. The loan agreement must be signed with a financial institution that has signed a cooperation agreement with Invega (list of financial institutions). The term of examination of an application is up to 30 business days from the date all required documents are properly submitted. In case of a favourable decision, compensation of interest will be paid on a monthly basis. Information about taken decisions can be accessed by logging in to the electronic application submission system, in the “Agreement/Decisions” section.

Compensation of interest shall not be provided, if:

  1. Real estate is purchased and/or constructed with the aim to sell (transfer) it to other parties rather than use it in own operations;
  2. The funds of the loan are intended for the acquisition of a non-commercial vehicle(s) (a non-commercial vehicle shall mean a light vehicle, which is specified as class M1 in the technical passport of the vehicle). This prohibition shall not apply to applicants whose activities are lease of vehicles, services provided by a driving school, passenger transportation, including taxi, and ride-sharing;
  3. The funds of the loan are intended for the acquisition of company shares, bonds or financing of other financial assets, covering of the balance of another loan, provision of a new loan to a third party, covering of obligations of third parties, with the exclusion of any re-financed investment of the loan recipient that is financed from loan funds under measures administered by INVEGA and that is made not earlier than 6 months before the signing of the loan agreement;
  4. Where INVEGA has taken a favourable decision and has concluded grant agreements regarding compensation of interest under another description of a measure of partial compensation of interest.
  5. The main activity of the SME is one of the following:
  • Road freight transport and moving activity, where the loan funds are intended for the acquisition of freight vehicles
  • Crop production and animal husbandry, hunting and related services
  • Forestry and preparation of timber
  • Fishing and aquaculture
  • Specialised retail of firearms and munitions
  • Organisation of gambling and betting

 

 

Print Friendly, PDF & Email
Atnaujinta 2020-05-26