Update: 26.03.2020 12:58
Prague – Entrepreneurs will be able to apply for interest-free loans with an annual deferral of installments under the COVID II program from Monday. There will be no minimum loan limit, applications should be accepted up to CZK 15 million. Unlike the first wave, entrepreneurs and small entrepreneurs will be able to use the program. Loans will be available from most commercial banks with whom contracts are now being signed. It will guarantee the loans through the Czech-Moravian Guarantee and Development Bank (ČMZRB). Deputy Prime Minister and Minister of Industry and Trade Karel Havlíček (for ANO) said it at a press conference after the government meeting.
The government has earmarked five billion crowns for the COVID II program. Thanks to the involvement of commercial banks, the money invested will multiply, so entrepreneurs should have around 30 billion crowns at their disposal. According to previous information, the CMZRB guarantee should cover up to 80 percent of the commercial loan. The expected duration of the guarantee will be three years.
As in the first wave of the program, loans can only be used to cover operating expenses such as wages, rent, energy, supplier-customer invoices, materials or stocks. Entrepreneurs will have to file applications with individual banks. According to Havlicek, most commercial banks operating on the Czech market should be involved.
In the COVID I program, ČMZRB received more than 3,200 applications exceeding CZK 10 billion. Companies could apply for loans from half a million to 15 million crowns.