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Citi Handlowy expands support for clients by loans guaranteed by BGK  

Citi Handlowy has signed an agreement with Bank Gospodarstwa Krajowego (BGK) under which it will offer to its clients loans with collateral up to 80 percent provided by BGK, as additional support for medium-sized and large companies affected by the Covid-19 outbreak.

The assistance package, which is part of the Government’s anti-crisis program, is intended to help companies maintain financial liquidity. Those guarantees will be given for PLN 3.5 – 200 million and for up to 27 months. They can be used to secure loans granted between 1 March 2020 and 31 December 2020. The eligible participants in the program are companies having appropriate creditworthiness. Clients of Citi Handlowy can already apply for these products.
One of the key roles we have to play today as a bank is to help our clients keep financial liquidity and navigate their businesses in these unprecedented times,’ said Mr. Sławomir S. Sikora, President of Citi Handlowy's Management Board. ‘Thanks to effective distribution of the Government’s assistance package by our bank, companies will have easier access to current financing of their working capital and, as a result, they will get help in their efforts to overcome the outcomes of economy lockdown in response to Covid-19.’
I’m glad that Citi Handlowy has swiftly joined the group of over ten banks that will be transmitting our liquidity assistance to medium-sized and large companies. The situation of the companies sector directly affects the condition of our economy. Acting together as banking sector to sustain many small and large businesses, we will contribute to bringing us closer to the end of the crisis,’ said Ms Beata Daszyńska-Muzyczka, President of the Management Board of Bank Gospodarstwa Krajowego.
The agreement with BGK is one of many activities initiated by Citi Handlowy during this pandemic crisis to support our clients and to help them meet their short- and long-term needs. Small and medium-sized companies can already use other assistance provided by our bank under de minimis guarantees issued by BGK. Institutional clients may e.g. reschedule their repayments or change the loan or financing conditions. Solutions for institutional clients allow a possibility to extend the repayment of 3 consecutive monthly (principal or principal-and-interest) installments, with an option to extend it by another 3 months upon a new client application. It is also possible to renew the current working-capital financing with an approaching maturity date for another 3 months under the same conditions, subject to the decision of the working group.
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